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Understanding these enhances insights into data management challenges and opportunities, enabling organisations to maximise the benefits derived from their data assets. Veracity Veracity refers to the trustworthiness and accuracy of the data. Value Value emphasises the importance of extracting meaningful insights from data.
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Langen & Huber 2023) in combination with eXplainable ArtificialIntelligence (XAI) can also be applied as well in the DATANOMIQ Machine Learning and AI framework.
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Training dataquality is the single biggest determinant of model performance. Insurance data is typically highly inaccessible: reports suggest that 80% of insurance data is unstructured, unlabelled, and not ready for AI model training.
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