FICO Releases Prescriptive Analytics and Decision Management Suite
Analytics software firm FICO has introduced the FICO Decision Management Suite 2.0, an expanded, cloud-based suite of analytic tools and applications.
"Many big data deployments have failed to deliver competitive advantage because their approach is completely backwards," said Stuart Wells, executive vice president of products and technology and chief technology officer at FICO, in a statement. "We focus on decisions first, as opposed to data first. That gives our customers the fastest route to real value and the agility to change course faster than the competition. It means being able to innovate like start-ups. Some of our Decision Management Suite customers have reduced the time to deploy an analytic application from months to days and the time to model a decision and act on it from weeks to minutes."
FICO Decision Management Suite 2.0 enables businesses to do the following:
- Engage team members in crucial points in the decision process through a unified user interface that leverages the recently codified DMN standard. The latest version of FICO Decision Management Platform accelerates how business decisions are put into operation by coordinating and orchestrating the process. A subject matter expert can model a decision with FICO DMN Modeler and put it into production through the Decision Management Platform without the need to involve IT.
- Simplify and centralize the decision management process through FICO Strategy Director, a new tool that helps users structure the decision flow. Strategy Director lets managers codify decisions, model and optimize them, test them through champion/challenger testing, modify them, and improve them to ensure the best outcomes. With the addition of FICO Decision Management Platform Streaming, business can filter and aggregate batch and streaming data from hundreds of sources and analyze it on the fly. The Decision Management Suite also includes FICO Customer Communications Services, which brings the decision right to the customer in real time.
- Enable businesses to record and store decisions so they can be reused, modified, and improved. FICO Decision Central provides the infrastructure to manage, audit, report, and update decision logic along with predictive models, treating decisions and resources that inform those decisions as assets.
FICO Decision Management Suite 2.0 also includes new Security Information and Event Management (SIEM) services that capture and analyze machine data and system log files. The suite also offers text and unstructured analytics to the predictive analytics already supported in the suite, as well as expanded and enhanced SAS and PMML execution.
"The original launch of the FICO Decision Management Suite in 2013 represented a dramatic change in decision logic authoring and application development," Wells said. "Now, with version 2 of the Decision Management Suite, FICO's customers have the chance to pull even further ahead of their competitors. This product suite represents the future of prescriptive analytics and decision management."
FICO Decision Management Suite 2.0 is available via FICO Analytic Cloud, Amazon Web Services. or as a private cloud or on-premises deployment. FICO Decision Management Suite 2.0 supports Apache Spark for big data processing.