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08. HIstorical Data Is More Than When an Event Occurred

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Evaluations based on historical information should take into account not only when events took place, but when that information was available to those who could have utilized the information.

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09. In Analyzing Data, Get to Ground Level

There is no substitute for actually examining raw data, which often yields surprises in how information is organized and described.
 

06. In Data, Stay Close to the Source

Acquired data may come from original collection efforts, or it could simply be a third-party purchase. Being able to answer questions about the data is crucial.
 

05. Judge Information by the Results It Achieves

Seeking or using unnecessary information could become an impediment in attracting and acquiring customers.
 

10. Put Statistics Around Data

Insurers that acquire data need to know how it was collected, that it was cleaned and verified and how it will fit into future developments.