The Big Question that comes into the mind of lots of people is – “Why R?” Here is the answer to this question. Most of the companies do prefer R because it is an open source software and is able to cater to the needs of Data Science people as well as Actuarial professionals. Lately, R has come up with actuarial packages which makes the analysis and number crunching effective and swift.
The biggest advantage of R over Excel is that R can really handle large datasets which excel cannot handle and owing to the big library of packages, the data analysis or applying various statistical tools becomes a seamless process. Thus, Banking, insurance, retail, Consulting groups, KPOs have started to rely on R and have started trusting this tool for their business analysis.
Below is an image from indeed.com/jobtrends that is doing a simple comparison between R and Excel VBA and this can be clearing seen that R is the crowd-puller. Therefore, we have strictly created the R content as per IFOA Curriculum 2019 which will cater the needs of all the Actuarial aspirants.
The entire course content is of more than 250 hours and the sessions happen in weekends only so that the working crowd can be easily accommodated. Each session runs for 1.5 hour followed by weekly assignments. The key to emerge as winner in this domain is – Practice and Practice.