You'll need a Mac or PC running Excel for about 95% of the work. You'll also need a separate software program to run the logistic regression procedure.
Many organizations use a software platform produced by SAS. But the truth is, there are less expensive solutions out there that can run the logistic regression procedure and get the exact same result. You'll probably want to budget $2k to $3k for this special software and we're happy to help with a recommendation.
The scorecard development process involves completing several independent steps (or modules) in a prescribed order. All but one of these steps can be completed using modules that you can design and program in Excel. You'll learn all the concepts necessary to do this, but to do so, you'll need to be experienced with Excel—nothing too fancy, but you should be comfortable writing formulas using a variety of Excel functions.
Our intent is to teach you the art of scorecard development, not the art of Excel programming. As we develop your scorecard together, we'll be using pre-written Excel modules, already designed by CreditRiskScorecards.com. These modules are included in the training package and are offered on an "as-is" basis, with full access to the formulas for subsequent editing with no password protection.
Training is an interactive process and consists of two distinct phases. Phase 1 consists of 2 full-day (8-hour) training classes at your place of business or home office, during which time our scoring consultant will cover our nine-step process in a classroom setting. This training is best suited for a small group of developers (less than 5, but 1 or 2 is more common).
Phase 2 can take anywhere from a few weeks to a month, and is where you develop a complete scorecard model on your time, but with our help, following the outline presented during the Phase 1 training sessions. You'll use your own data and develop a scorecard model to serve a real business purpose. You will follow our nine-step process and we will collaborate via video-conference, telephone, and/or email throughout Phase 2.
At the conclusion of each step, we will audit and critique your work, providing constructive criticism and advice. We will ensure everything checks-out prior to proceeding from one step to the next.
The first scorecard project is not a race against time. Our desire is to "teach you to fish", and our intent is to provide a thorough and interactive education that will serve you for years to come. Our refreshing approach to teaching this skill in a simple and straightforward manner is where CreditRiskScorecards.com sets itself apart from the rest!