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Excel Tutorial – How to Sort in Excel, sort multiple columns, advanced sort

In this lesson we cover how to sort in Excel from an actuarial science perspective.
You’ll learn:
-sorting
-filter sorting
-advanced sorting (sort multiple columns)

You can sort data by text (A to Z or Z to A), numbers (smallest to largest or largest to smallest), and dates and times (oldest to newest and newest to oldest) in one or more columns. You can Continue Reading

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Excel Tutorial – How to use Pivot Tables

 

Create a PivotTable to analyze worksheet data – Excel

Being able to analyze all the data in your worksheet can help you make better business decisions. But sometimes it’s hard to know where to start, especially when you have a lot of data. Excel can help you by recommending and then automatically creating PivotTables, which are a great way to summarize, analyze, explore, and present your data.

  1. Make sure your data has column headings or table headers, and that there are no blank rows.
  2. Click any cell in the range of cells or table.
  3. Click Insert > Recommended PivotTables.Recommended PivotTables on the Insert tab in Excel
  4. In the Recommended PivotTables dialog box, click any PivotTable layout to get a preview, and then pick the one that shows the data the way you want.In Recommended PivotTables choose PivotTable layout in Excel
  5. Click OK.Excel places the PivotTable on a new worksheet and shows the Field List so you can further rearrange the PivotTable data as needed.
  6. To zero in on the data and arrange it the way you want, you can filter and sort the PivotTable. See Filter data in a PivotTable and Sort data in a PivotTable.In the example shown below, Row Labels is filtered to show only sales for the South and West regions.PivotTable filtered by Row Labels

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Excel Tutorial – How to use lookups, vlookup and hlookup

In this video, we show you how to use lookup functions in Excel.

VLOOKUP
=VLOOKUP (lookup_value, table_array, col_index_num, [range_lookup])
Use VLOOKUP, one of the lookup and reference functions, when you need to find things in a table or a range by row. For example, look up an employee’s last name by her employee number, or find her phone number by looking up her last name (just like a telephone book).

HLOOKUP
=HLOOKUP(lookup_value, table_array, row_index_num, [range_lookup])
Searches for a value in the top row of a table or an array of values, and then returns a value in the same column from a row you specify in the table or array. Use HLOOKUP when your comparison values are located in a row across the top of a table of data, and you want to look down a specified number of rows. Use VLOOKUP when your comparison values are located in a column to the left of the data you want to find.

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Actuaries in Non-Standard Jobs

Non-Traditional Paths

This article was taken from the Society of Actuaries.

Wherever there is risk—and a desire to manage it—there is opportunity for actuaries to apply analytical skills and business knowledge to solve problems. Changes in the world bring new risks; and new risks mean new challenges for actuaries. Also, as more leaders and organizations see that risk modeling and management can help them navigate volatile situations, actuarial careers are taking exciting turns.

The Society of Actuaries best prepares individuals for risk management careers and an increasing number of non-traditional roles in more and more industries.

Actuaries are finding roles in industries where actuaries have never been.

As companies seek greater control over risk, they are bringing actuarial work in-house. Enterprise Risk Management has become such a trusted, essential function that some organizations employ a Chief Risk Officer, a risk management-focused position at the most senior level of business leadership.

Additionally, actuaries find professional growth and personal satisfaction in fields such as:

  • Financial services, such as banking, investment management and stock markets in developing economies
  • Technology, e-commerce and business start-ups of all sorts
  • Environmental causes, climate change and weather risk management
  • Transportation, such as shipping and air travel
  • Energy, such as utilities, oil and gas
  • Government institutions, social programs and other groups that help shape legislation

Examples of non-traditional actuarial fields:

  • Business Analytics, where actuaries work on predictive analytics, predictive modeling and data mining
  • Enterprise Risk Management, where actuaries provide tools, techniques and perspective to manage operational risks at an enterprise or corporate level
  • Senior Management, where actuaries provide broad business and management oversight for an organization’s most senior decision makers
  • Investments and Fund Management, where actuaries focus on asset risks for asset managers but also contribute in areas such as hedging strategy, derivatives structuring and structured finance
  • Banking and Financial Services, where actuaries help banks and financial services companies with product portfolio, capital management and risk analysis
  • Environmental Finance, where actuaries apply finance techniques and practices to environmental issues
  • Wealth Management and Financial Planning, where actuaries contribute skills and expertise to wealth management firms and individuals (rather than to insurance companies)
  • Health and Retirement Financing, where actuaries offer advice on aspects of social insurance including funding levels and population projections
  • Sales and Marketing, where actuaries help set policies, messages and compensation levels for those directly involved in marketing
  • Entrepreneurial Actuaries, which represents a wide range of opportunities for actuaries who desire to set up and run their own business

 

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Should I get a MBA from Actuarial Science background?

You’ve probably wondered, should I get an MBA coming from an actuarial science background? Or maybe should I get a actuarial science MBA (from the few schools that offer it)?

What is a MBA?
MBA stands for Master of Business Administration.
Two-year (Full-Time) MBA programs normally take place over two academic years (i.e. approximately 18 months of term time). For example, in the Northern Hemisphere, they often begin in late August/September of year one and continue until May of year two, with a three- to four-month summer break in between years one and two. Students enter with a reasonable amount of prior real-world work experience and take classes during weekdays like other university students. A typical Full-time, accelerated, part-time or modular MBA requires 60 credits (600 class hours) of graduate work.
Accelerated MBA programs are a variation of the two-year programs. They involve a higher course load with more intense class and examination schedules and are usually condensed into one year. They usually have less “down time” during the program and between semesters. For example, there is no three- to four-month summer break, and between semesters there might be seven to ten days off rather than three to five weeks vacation. Accelerated programs typically have a lower cost than full-time two-year programs.

Do many actuaries get MBA degrees?
The short answer is, no. The general pathway for many actuaries is they study actuarial science or mathematics in undergrad, get their Bachelors degree, and then work at a company while completing exams until they obtain their fellowship (FSA for Society of Actuaries, FCSA for Casualty Actuarial Society).

What are the benefits of Continue Reading

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