Which solution will meet these requirements?
Perform classification every month by using supervised learning of the 200 outcome categories based on claim contents.
Perform reinforcement learning by using claim IDs and dates. Instruct the insurance agents who submit the claim records to estimate the expected number of claims in each outcome category every month.
Perform forecasting by using claim IDs and dates to identify the expected number of claims in each outcome category every month.
Perform classification by using supervised learning of the outcome categories for which partial information on claim contents is provided. Perform forecasting by using claim IDs and dates for all other outcome categories.
Explanations:
While supervised learning can be used for classification of the 200 outcome categories, performing classification every month does not account for the temporal aspect needed to predict future claims effectively. This approach lacks the ability to forecast trends over time.
Reinforcement learning is not suitable for this scenario as it focuses on learning optimal actions through trial and error in dynamic environments, rather than predicting counts of future events. Additionally, instructing insurance agents to estimate claims adds human error and does not leverage available data effectively.
Forecasting using claim IDs and dates aligns with the need to predict future claims in each outcome category. Time series analysis can capture trends, seasonality, and other temporal patterns in the claims data, providing a robust method for predicting future claims.
This option combines classification with forecasting but is incomplete as it specifies using classification only for claims with partial information. While it is valid to use classification for those cases, it does not provide a comprehensive forecasting strategy for all claims, making it less suitable than option C for predicting future claims.
I judge that the answer is:
Perform forecasting by using claim IDs and dates to identify the expected number of claims in each outcome category every month.