New FICO Software Gives Business Users at All Levels the Ability to Create Their Own Predictive Models in the FICO Analytic Cloud
SAN JOSE, Calif., June 19, 2014 /PRNewswire/ -- FICO (NYSE: FICO), a leading predictive analytics and decision management software company, today introduced FICO® Analytic Modeler, model development and decision strategy software that enables a range of business users – from non-technical to highly skilled – to rapidly gain real and reliable value from their data in the FICO® Analytic Cloud. The powerful predictive analytics modeling toolset is a core part of the FICO® Solution Stack, FICO's development environment which brings together Big Data, predictive analytics and decision execution.
FICO Analytic Modeler integrates technology from FICO's recent acquisition of InfoCentricity, including powerful, user-friendly, online analytic tools, with FICO® Model Builder, FICO's robust on-premises analytic tool for exploring and analyzing data of any size and complexity. The toolset initially consists of two components: a scorecard tool which allows users to create deployment-ready scorecards, and a decision tree tool, which lets them build decision trees that help determine the best course of action.
The standard version of FICO Analytic Modeler was developed for business analysts, and features an intuitive, visual user interface. The professional version gives more experienced business analysts sophisticated tools for adjusting to imperfect data, addressing competing objectives, and building best-of-breed transparent models that align to business expectations, meet regulatory requirements, and ease the audit process. Coupled with advanced decision tree capabilities, analysts can explore the impact of implementing scores along with policies and create data-driven business rules.
"We're working to democratize analytics by putting the best technology and tools into the hands of diverse users, with different skillsets, at organizations of all sizes," said Stuart Wells, chief technology officer at FICO. "Tremendous value can be gained from simple, easily understood predictive models. We've engineered FICO Analytic Modeler so that business users can accomplish many analytics tasks themselves, while data scientists can focus on the most complex business problems."
"Analytics are growing increasingly ubiquitous," said Dan Vesset, program vice president, Business Analytics & Big Data at IDC. "At the same time, analytic offerings are evolving to address the needs of specific businesses and skill sets, such as workforce analytics for the HR manager, or fraud analytics for the risk manager, or marketing analytics for the campaign manager. The easier these analytics are to build, the more people will be able to avail themselves of the promise of analytics everywhere."
The FICO® Analytic Modeler toolset is available today within the FICO® Solution Stack in the FICO® Analytic Cloud.
FICO (NYSE: FICO) is a leading analytics software company, helping businesses in 90+ 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. These include 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.
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