The Community of Asset Analysts (CAA) was officially founded in 2019, when we held the first meeting after Stats, Graphs, and Data Science 2 in Detroit, MI. Many of group’s leaders voluntarily attended to help and support what George Dell’s Valuemetrics.Info had been building for many years.
We continue to grow. We have a mission.
Our underlying premise for service is that the best results combine expert judgment with computer power. The computer power is easy to understand. Speed, memory, and data. The expert judgment comes from appraisers who have an understanding of the valuation process, market familiarity, and the regulatory system.
But there is a third element: the connection between the expert and the full data. This third element involves the connection between human judgment (model decisions) and computation (algorithms). This connection itself has three component parts:
- Visualization, via interactive graphs, maps, tables, and interactive dashboards.
- Hardware: specifically large, high-resolution screens, enabling the visuals.
- Software packages which support reproducible, auditable results.
The human judgment is aided at two points: a) the analyst in making decisions regarding relevant market data; and b) the users who may comprise reviewers, loan or investment decision makers, collateral risk managers, portfolio managers, executive managers, regulators, courts, and assessors.
The human judgment requires both traditional appraisal competence, and modern concepts from the world of analytics, econometrics, and data science. Doing the mechanics of analysis.
At Valuemetrics.info, we provide education which emphasizes the underlying economic theory – using complete data (rather than convenient judgment ‘comp’ samples). Our education blends the theory with case examples using spreadsheet solutions as well as the newer, friendlier, analyst-specific software.
We apply the most popular and most relevant software for our recent course work: R, using the Rstudio user interface. (Rstudio recently changed their name to Posit.) R is an analytics program specifically designed for visualization and analysis of complete (and substantially complete) data sets. Posit (formerly Rstudio) user interface combines the best of ‘point-and-click’ features with the ability for command-line typing of model decisions. Two additional, related features are also unique to R. First, each mouse point-and-click instruction immediately displays the actual code command. Better yet, each time there are choices, Posit provides a dynamic pick-list of likely model choices. (The program is surprisingly good at anticipating the next user instruction!)
This four-method view, enables users/analysts at various levels of experience to continue learning on an ongoing and gratifying basis.
We recognize that CAA members vary widely in their knowledge of the software, as well as of appraisal specialty and experience. Some just want to get started, while others are comfortable discussing syntax and more complex applications.
In our most recent meeting, it became obvious that our path to serving the public through a CAA membership also means providing education, assistance, and even code at various levels of understanding and comfort. We intend to begin providing more free- and low-cost ‘modules’ which build on the basics outlined in SGDS1.
We (at Valuemetrics.info) intend to adapt to this range of skill and need. We will continue to provide the basic Stats, Graphs, and Data Science course (SGDS1), with CE in most states. Alternately, we will provide additional non-CE education (both, inside and outside of the CAA) for those more interested in genuine learning, not just “CE hours.” (There are plenty of cheap, effortless CE courses available.)
The first of the ‘non-CE’ education classes is scheduled for November 4th where Craig Gilbert will be joining George in a three-hour class on ‘Price Indexing in Changing and Declining Markets’.
This non-CE approach deals with the unusually extreme regulatory/bureaucratic/administrative burden of state ‘approvals’, standards conflicts, and habit inertia of a profession burdened by “well-established practices” – which are obsolete, enable bias and are subject to client/AMC influence. The administrative, bureaucratic, restrictive inertia must go. The old-trainer new-trainee apprentice model retards the entry of a diverse and younger crowd who are more computer-comfortable.
Some education will be offered as webinars, as we have been doing regularly. (Such as our Things You Need 2 Know – The Webinar series on our YouTube Channel.) Other modules will provide starting foundations for those feeling uncomfortable with diving right into SGDS1. And, as always, we will continue providing presentations at conferences, where organizers see the need to prepare the profession for the future and modernize the valuation process to include additional services.
Such services will serve to enable appraisers (and unlicensed “valuation analysts”) to provide results beyond that of AVMs, BPOs, and other ‘waivered’ products. Asset Analysts, of the Community of Asset Analysts, use these skills to work toward greater future income, enhanced self-worth, true “impartial, independent, and objective” services that include more, much more, than just a point value opinion two weeks ago.
The Community (CAA) is open to graduates of George Dell’s entry-level, basic course. Your starting point to join our Community of Asset Analysts is by taking this introductory, (with CE in most states) SGDS1 class. On-line, or in person. For more information go to georgedell.com, or Valuemetrics.info.