SAN JOSE, Calif., June 26, 2013 /PRNewswire/ -- FICO (NYSE: FICO), a leading predictive analytics and decision management software company, today introduced the latest version of the FICO® Xpress Optimization Suite for developing and optimizing applications that can efficiently solve complex and massive Big Data problems, leading to the best possible business decisions. FICO Xpress Optimization Suite 7.5 is part of the FICO® Decision Management Platform, and will be available on-premise or via the FICO® Analytic Cloud.
While Big Data offers organizations increased opportunities for real-time intelligence and decision-making, the variety and velocity of the data can present optimization challenges. The latest version of FICO Xpress Optimization Suite helps organizations address these Big Data challenges, by enabling them to develop and deploy optimization applications that solve the biggest real-world problems faster than ever with the addition of nonlinear programming, improved solver speed and enhanced web enablement.
"Organizations with large-scale operations, from global banks to retailers, utilities and professional sports leagues, use Xpress Optimization Suite to ensure that they are making the most efficient and profitable use of capital, human resources, and technology assets," said Stuart Wells, chief technology officer at FICO. "The enhancements to this release make Xpress the only optimization software on the market that can address the range of optimization problems of all types and complexities. This means that enterprises can now take advantage of Big Data analytics and solve previously unsolvable problems."
"In this age of Big Data and Analytics there is a need to solve optimization problems of unprecedented sizes and complexity," said Dan Vesset, vice president of business analytics and big data research at IDC. "These real world, nonlinear optimization problems involve millions of variables and constraints and a vast number of potential solutions. Traditional linearization approaches, such as sampling a few values from the solution space, no longer deliver the business value required to stay competitive."
As part of this release, FICO is introducing Xpress-NonLinear, which enables enterprises to model the true nonlinear relationships between decisions and outcomes, more accurately capturing reality, and readily navigating trillions of permutations, variables and constraints. Xpress-NonLinear bundles linear programming, quadratic and quadratically constrained programming, interior-point-nonlinear and successive-linear programming solvers in one package. The auto-detection capability determines the type of optimization problem users are trying to solve and assigns the appropriate linear or nonlinear solvers to provide the best solution.
FICO® Xpress Optimization Suite was the first optimization software with 64-bit ultra-large-scale optimization for solving massive problems, and version 7.5 makes it easier than ever to use distributed, cloud-based optimization services to crunch the numbers. FICO Xpress is also the optimization engine inside FICO solutions such as FICO® Decision Optimizer and FICO® Analytic Offer Manager.
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 80+ countries make better decisions that drive higher levels of growth, profitability and customer satisfaction. The company's groundbreaking use of Big Data and mathematical algorithms to predict consumer behavior has transformed entire industries. FICO provides analytics software and tools used across multiple industries to manage risk, fight fraud, build more profitable customer relationships, optimize operations and meet strict government regulations. Many of our products reach industry-wide adoption — such as the FICO® Score, the standard measure of consumer credit risk in the United States. FICO solutions leverage open-source standards and cloud computing to maximize flexibility, speed deployment and reduce costs. The company also helps millions of people manage their personal credit health. FICO: Make every decision count™. Learn more at www.fico.com.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this news release that relate to FICO or its business are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the success of the Company's Decision Management strategy and reengineering plan, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2012 and its last quarterly report on Form 10-Q for the period ended March 31, 2013. If any of these risks or uncertainties materializes, FICO's results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
FICO and "Make every decision count" are trademarks or registered trademarks of Fair Isaac Corporation in the United States and in other countries.