Coarse Classification
From Open Risk Manual
Definition
Coarse Classification (also Grouped Variable) in the context of Quantitative Risk Management is the transformation of the range of a Random Variable that is continuous or ranging over a large number of values to a more parsimonious range. It may be generated via the the discretization of Numerical Variable into a defined set of bins (intervals) or the grouping of different attributes of a Categorical Variable.
Coarse classification is an initial stage of model development, after Characteristic Selection
