Some actuaries are convinced that adding more important details really helps. With more details and more information you are able to explain you models better and as we all know: better communication is key in actuarial science.
Here is an example of detailed information (click on the image!)
Some(times) details don't matter
Unfortunately more information and more details generally disturb efficient decision making. The next text shows that some details don't really matter.
Explanation
According to a study at Cambridge University, to read and understand a text well, it doesn't matter in what order the letters in a word are placed. The only condition is that the first and last letter of each word remain the same. The rest can be a total mess up. This is because the human mind does not read every letter by itself but the word as a whole.
DIY
Let's conclude with an 'example text' for the opening-slide of you next board presentation:
Scramble your own opening-slide text for your next presentation at:
No doubt, your next report will be actuarial scrambled.... ;-)
Related sources and links
- Words Scrambler
- MRC Cognition and Brain Sciences Unit
- All My Faves
Here is an example of detailed information (click on the image!)
Some(times) details don't matter
Unfortunately more information and more details generally disturb efficient decision making. The next text shows that some details don't really matter.
Smoe acaruites are covcnined taht adding mroe imnrpotat deaitls rlaely hleps. Wtih more dleitas you are albe to eplaxin you mlodes bteter and as we all konw: btteer cmniutcoiaomn is key in aratiuacl sieccne.
Sirnpigrulsy tihs is not ture. Tihs txet sowhs taht smoe daeilts dno't rlaley mttear.
The arutacial aidnceue isn't rlaley istretneed in the daeilts, but in caelr ipunt (fsrit ltteer of a wrod) and oumotces (last letetr of a word). The dtilaes (letetrs) in bweteen can be mexid up in evrey rodnam oerdr you lkie. Keep in mnid tihs iponmatrt lsosen in your nxet peeiatntsorn.
Sirnpigrulsy tihs is not ture. Tihs txet sowhs taht smoe daeilts dno't rlaley mttear.
The arutacial aidnceue isn't rlaley istretneed in the daeilts, but in caelr ipunt (fsrit ltteer of a wrod) and oumotces (last letetr of a word). The dtilaes (letetrs) in bweteen can be mexid up in evrey rodnam oerdr you lkie. Keep in mnid tihs iponmatrt lsosen in your nxet peeiatntsorn.
Explanation
According to a study at Cambridge University, to read and understand a text well, it doesn't matter in what order the letters in a word are placed. The only condition is that the first and last letter of each word remain the same. The rest can be a total mess up. This is because the human mind does not read every letter by itself but the word as a whole.
DIY
Let's conclude with an 'example text' for the opening-slide of you next board presentation:
Daer Board mrebmes,
Agtlhouh we hvae to tkae fetdanmaunl dniecioss tdoay, it wlil not be ncseresay to udasnertnd or dcssius all knid of tcihcenal dtileas.
The relust of my avicde is pertseend in scuh a way as to esurne taht we can stcik to the mian ptinos and hneieadls.
The vrey fcat that you wree albe
to raed and udnreastnd tihs txet,
greauetans taht we wlil hvae a
sefscuucsl mtineeg.
Yuor aivdosr
Agtlhouh we hvae to tkae fetdanmaunl dniecioss tdoay, it wlil not be ncseresay to udasnertnd or dcssius all knid of tcihcenal dtileas.
The relust of my avicde is pertseend in scuh a way as to esurne taht we can stcik to the mian ptinos and hneieadls.
The vrey fcat that you wree albe
to raed and udnreastnd tihs txet,
greauetans taht we wlil hvae a
sefscuucsl mtineeg.
Yuor aivdosr
Scramble your own opening-slide text for your next presentation at:
No doubt, your next report will be actuarial scrambled.... ;-)
Related sources and links
- Words Scrambler
- MRC Cognition and Brain Sciences Unit
- All My Faves
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