Difference between revisions of "Score"
From Open Risk Manual
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== Definition == | == Definition == | ||
| − | '''Score''' is Statistical / Mathematical Concept that provides a numerical record of ''points'' earned in some scoring process | + | A '''Score''' is a Statistical / Mathematical Concept that provides a numerical record of ''points'' earned in some scoring process. |
| − | == | + | == Context == |
| + | Scores find widespread application in [[Risk Management]] as they facilitate aggregating and summarizing information about a system, entity or [[Risk]] and communicating such information in a concise manner. | ||
| + | |||
| + | == Usage == | ||
| + | A [[Scorecard]] is a system for compiling a set of [[Partial Score | partial scores]] which may be suitably summed into a final score. | ||
| + | |||
| + | == Examples == | ||
* A [[Rating]] is typically a more coarse grained assessment / aggregation | * A [[Rating]] is typically a more coarse grained assessment / aggregation | ||
* A [[Risk Score]] is a score applied in the assessment of Risk | * A [[Risk Score]] is a score applied in the assessment of Risk | ||
* A [[Credit Score]] is a scoring system that aims to assess [[Creditworthiness]] | * A [[Credit Score]] is a scoring system that aims to assess [[Creditworthiness]] | ||
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[[Category:Statistics]] | [[Category:Statistics]] | ||
[[Category:Risk Management]] | [[Category:Risk Management]] | ||
Latest revision as of 20:02, 11 March 2024
Contents
Definition
A Score is a Statistical / Mathematical Concept that provides a numerical record of points earned in some scoring process.
Context
Scores find widespread application in Risk Management as they facilitate aggregating and summarizing information about a system, entity or Risk and communicating such information in a concise manner.
Usage
A Scorecard is a system for compiling a set of partial scores which may be suitably summed into a final score.
Examples
- A Rating is typically a more coarse grained assessment / aggregation
- A Risk Score is a score applied in the assessment of Risk
- A Credit Score is a scoring system that aims to assess Creditworthiness
