Overview
With the help of the recruiting team from The Cigna Group, we created a tiered system for students starting their actuarial journey who are looking to begin using some of the tools that actuaries use in the work force. Tier 1 starts with the basics and most commonly used coding languages. Tiers 2 and 3 include helpful information that may not be as common but are still really useful to include in your actuarial journey!
Tier 1
ExcelExcel is one of the most important tools an actuary uses, and VBA adds coding functionality to Excel. Click below for Excel/VBA learning resources!
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SQLSQL is a language that is designed for managing and summoning data from different databases based on a criteria you are looking for. Click below for SQL learning resources!
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Tier 2
VBAExcel is one of the most important tools an actuary uses, and VBA adds coding functionality to Excel. Click below for Excel/VBA learning resources!
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RR is a programming language for statistical computing and graphics that you may find yourself using as an actuary! Click below for R learning resources
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Tier 3
Microsoft AccessMicrosoft Access makes it easy to manipulate, combine, or organize massive databases. Click below for Microsoft Access learning resources!
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PythonPython is a general purpose programming language that has become very popular. Although it's not emphasized within the actuarial profession, Python can be a great way to set yourself apart from the competition. Click below for Python learning resources!
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SASSAS is an integrated software suite for advanced analytics, business intelligence, data management, and predictive analytics. Click below for SAS learning resources!
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Excel
Excel is one of the most important tools an actuary uses. Having a mastery of its functions and features can make you more employable and more efficient in your work. A great place to start is taking MIS 250, which teaches you the basics of excel formulas, charts, and graphs. Below are more resources for advancing your excel skills:
- Cigna has provided a Basic Excel Training and an Intermediate Excel Training course to help with learning the software
- Watch this RM 214 Excel Lecture to hear former department head Ron Gebhardtsbauer's go through a real world application for excel as he touches on his Excel Tips
- Former Club President John Miller has constructed this file where you can become a master of shortcuts! Improve your excel speed by never touching your mouse. John also provided an Excel training on 9/9/20, viewable here.
- Here is another past excel workshop file. Answer the questions in the document and try to accomplish other goals by sorting and filtering the data!
- Private websites like Excel Easy and ExcelJet offer free and paid ways to learn more about excel. You can even find a variety of video series like this one on LinkedIn!
- Google it!
SQL
SQL (pronounced Sequel) is similar to Access in that it is used for database management, but SQL has a few key differences. SQL is a language that is designed for managing and summoning data from different databases based on a criteria you are looking for. Imagine you have a huge database of policies and you want to specify the specific types of information you want to find within it, SQL can help! SQL can be more powerful and versatile than Access, but to use its full functionality you will need to understand how coding words and what the syntax of SQL is.
There are many different versions of SQL, but the Developer version, which is sufficient for learning it before applying it at a company, can be downloaded here.
- Cigna SQL training powerpoint
- Initial Learning Strategy
- Videos:
- W3 Schools
- W3 has a really nice reading opportunity to learn SQL and perform exercises at the end of each section. Not many learning resources let you actually apply the learning, so this is a great resource!
- SQL "Cheat Sheet"
- Useful reference for syntax and frequently used commands.
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VBA
VBA, or Visual Basic for Applications, is the coding tool for excel. Have you ever wanted to automate a process and make a graph more dynamic for new information? VBA can help! If you have prior coding experience, VBA should come naturally, but if you've never heard of a for loop or if statement, don't worry. The following resources can help give you a competitive edge in the eyes of an employer:
Cigna Resources: VBA Training Spreadsheet
Additional Resources:
Cigna Resources: VBA Training Spreadsheet
Additional Resources:
- It may help to first understand what VBA can do. To see a few examples of the power of VBA, click here
- Watch this RM 415 VBA Lecture to hear former department head Ron Gebhardtsbauer's go through a real world application for excel as he touches on his VBA tips
- Wise Owl Tutorials does a fantastic video series on VBA, check it out on YouTube here
- Step through this VBA Presentation on how to create macros and some of the basic VBA tools you may be using
- Here is an example of something you may be assigned to create in RM 415 using VBA
- Private companies such as Excel Easy offer free and paid ways to learn more about VBA
- Google it!
R
R is a coding language for statistical computing and graphics that you may find yourself using as an actuary! It is primarily run through RStudio, which you should be able to access on any Penn State computer, or download to use on your own device for free here.
Cigna has provided some resources for learning R. This PowerPoint will teach you the advantages and capabilities of R, along with the basics and accepted practices. For the practice at the end, you will need this R markdown file along with a hospital and insurance data set.
The Society of Actuaries recognizes the importance of knowing how to use R and that is one of the reasons why they created the Predictive Analytics Exam. The PA exam is a 5 hour and 15 minute project that is completed with the use of R. It is a real-world business problem with data you will have to sort and perform analysis on to support your conclusion.
Penn State is ready to help students learn R and offers several courses for this purpose. A good place is start is STAT 184: Introduction to R. After taking this course, try some of the below options to learn more:
- Penn State Classes: (note that the course descriptions for 461 and 462 do not mention R. This is because R is used in these classes as a teaching tool. Code is usually provided, and you are tasked with interpreting the output - a good starting place to learning R!)
- STAT 184: Introduction to R
- STAT 380: Data Science through Statistical Reasoning and Computation
- STAT 440: Computational Statistics
- This class uses the most R out of the upper level Stat courses. It helps to have at least some exposure to R before taking this class
- STAT 461: Analysis of Variance
- This class focuses on teaching theory, but applies the concepts using R. It's a great class for your first exposure to R
- STAT 462: Applied Regression Analysis
- This class focuses on teaching theory, but applies the concepts using R. It's a great class for your first exposure to R
- STAT 463: Applied Time Series Analysis
- This class teaches lots of theory and uses some R as well. Think of it as additional exposure to using R in a time series context, but don't expect to learn R inside and out
- STAT 484: The R Statistical Programming Language
- STAT 485: Intermediate R Statistical Programming Language
- Datacamp is a private learning organization where you can take full length courses in R to understand how it works from the ground up. The full service is paid, but you can try out a few lessons for few to see if you like it!
- Here is a link to a playlist of videos to help you learn R in an active and visual way!
- Here is a free online textbook called "R Programming for Data Science"
Here is an example of what you could do in R! You can clearly see that there is a direct, positive relationship between the amount of time somebody spends on The Actuarial Science Club Website and the average score they receive on their actuarial science exams! With a correlation value of 0.778, you should certainly be using The Club Website as much as possible!
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Access
Microsoft Access is a tool that can be used for manipulating data sets so they can be used more easily. For example, if you have sales and shipping information from three different data sources you can combine them using Access! This is done by creating a "Query" that ties all of the data via a common ID number to only the information you actually need from your data sources. It's a great way to manipulate data to make it more user friendly for later use! An advantage of access is that it is very user-friendly. You don't need to know lots of coding or syntax to use it.
The easiest way to use and learn Access is through webapps.psu.edu. Visit this site and scroll until you see "Access". Log in with your PSU account and you can work on SAS for free! Keep in mind that you will be working on SAS from your Penn State account, so if you want to upload files (such as data), you will need to use webfiles.psu.edu.
Here are some resources to help you learn Microsoft Access:
- Microsoft likes the users of its tools to know what they are doing, so they publish their own lessons here. It's broken down nicely by skill, making it easy to find the specific lessons you want
- Here is part one of a two part video lesson on Microsoft Access on YouTube. It only takes 2 hours to watch all of it, so next time you are thinking of watching a Netflix movie, watch this instead and pick up a new skill!
- Prefer to read rather than watch? Tutorialspoint has online text material to help you learn Access!
- Udemy has a free version of their video lectures here
Python
Python is an open-source coding language that has become increasingly popular in the last 10-20 years because of its simple syntax and quick testing functionality. While it is not emphasized by the Society of Actuaries or the Penn State Actuarial Science Majors, it can be a great tool to possess to set yourself apart from the competition. While you can learn Python quickly online, you can also get started at Penn State by taking CMPSC 101: Introduction to Programming and CMPSC 121: Introduction to Programming Techniques. These courses are not focused entirely on Python, as they also teach other techniques such as C++, but they are a good way to understand the logic of how coding works. After you take these courses, try CMPSC 131: Programming and Computation I: Fundamentals and CMPSC 132: Programming and Computation II: Data Structures which will more specifically teach Python. For more ways to learn Python, check out the resources below:
- Google has published a complete learning manual with video lectures from set-up to advanced techniques! There are learning exercises included to help you practice your new coding skills as well! Check out this fantastic resource here
- This is a nicely put together online manual for learning Python as well!
- Here is another great online manual for learning Python through the Open Book Project
Check out the below image for how linear regression can be done through Python! This is a great example of how to get more detailed results than a simple Excel best fit line would provide.
SAS
SAS is an integrated software suite for advanced analytics, business intelligence, data management, and predictive analytics.
SAS enables you to:
SAS enables you to:
- Enter, retrieve and manage your data easily
- Create slick reports and pretty pictures
- Analyze your data statistically and mathematically
- Plan, forecast and make decisions concerning your business
- Manage your projects and perform research on how you conduct your operations
- Improve the quality of your processes, as well as
- Develop entirely new software applications.
To use SAS, you have three options:
- Use SAS on a Penn State computer. Not all campus computers have SAS installed, but most do. If you find a computer on campus that doesn't have SAS installed, simply try another computer or different computer lab.
- However, there is an alternative: webapps.psu.edu. Visit this site and scroll until you see "SAS". Log in with your PSU account and you can work on SAS for free! Keep in mind that you will be working on SAS from your Penn State account, so if you want to upload files (such as data), you will need to use webfiles.psu.edu.
- Use SAS on Demand for Academics, you will need a student account to do this, use https://www.sas.com/en_us/software/on-demand-for-academics.html.
- Purchase the software itself. You can get a student discount, so be sure to use it!
Penn State courses:
Training from SAS:
Unlike open-sourced coding tools like R, which are open-sourced, SAS is an actual company! That means they have lots of support for helping individuals learn their software. For free learning, try their free learning resources here.
- Stat 483: Statistical Programming in SAS - This course is a full 3 credit course in learning SAS. If that's too much for you, the below classes are parts 1, 2, and 3 of Stat 483, each worth 1 credit
Training from SAS:
Unlike open-sourced coding tools like R, which are open-sourced, SAS is an actual company! That means they have lots of support for helping individuals learn their software. For free learning, try their free learning resources here.