what are the practical business applications of numerical analysis interpolation?

Question

does this concept applied in business areas such as finance, risk management, or any other areas?

Answer 1

Absolutely in Finance. I can't speak to the insurance risk management side, though I cannot imagine it isn't baked into their algorithms somewhere.

Being able to discern, or at least have an idea where numbers along a function may propagate between known start and end points is incredibly useful, and the more accurate you are, the more confident in making business decisions you will be.

Cheers