Difference between revisions of "Expert Based Models"
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== Definition == | == Definition == | ||
| − | '''Expert Based Models''' are models that are more or less direct translation of expert knowledge rather than based on quantitative data sources. | + | '''Expert Based Models''' are models such as [[Expert Scorecards]] that are more or less based on the direct translation of expert knowledge rather than based on quantitative (statistical) data sources. |
== Usage == | == Usage == | ||
Latest revision as of 19:57, 11 March 2024
Definition
Expert Based Models are models such as Expert Scorecards that are more or less based on the direct translation of expert knowledge rather than based on quantitative (statistical) data sources.
Usage
Assuming several independent experts are available, expert models can be developed according to a rigorous process similar to more quantitative models
