NREL Uses FICO Xpress Optimization Suite for Energy Assessments
SAN JOSE, Calif., March 11, 2013 /PRNewswire/ -- FICO (NYSE: FICO), the leading provider of predictive analytics and decision management technology, today announced that the U.S. Department of Energy's National Renewable Energy Laboratory (NREL) is using FICO® Xpress Optimization Suite to perform energy assessments for government agencies, including Department of Defense (DOD) installations. These assessments provide technical analysis and input on energy strategies that can help U.S. agencies reduce energy costs, decrease reliance on foreign oil, increase energy security and achieve sustainability goals.
FICO Xpress Optimization Suite is mathematical modeling and optimization software designed to help organizations solve large-scale challenges and make critical resource allocation, asset management and scheduling decisions. The U.S. government has a goal of obtaining 7.5 percent of total energy consumed from renewables, and DOD has goals of deploying three gigawatts of renewable energy and achieving net zero (producing as much energy as they consume) at some installations. NREL uses FICO Xpress Optimization Suite to create models for its technical, economic, and policy analysis. NREL makes recommendations for agency and military installations on their energy options from biomass, to landfill gas, waste-to-energy, solar and wind.
"As the single largest energy consumer in the world, the U.S. federal government is aiming to lead by example and help mitigate climate change, reduce greenhouse gas emissions and significantly decrease its energy consumption," said Bill Waid, general manager for the Americas at FICO. "NREL efforts are important to helping the government meet this goal, and we are pleased that FICO Xpress Optimization Suite is part of the solution. Large-scale energy decisions are enormously complex, and must be solved within very tight time and budget constraints – big challenges, yet ideal for FICO's optimization software."
Organizations with large-scale operations, from global banks to professional sports leagues, use FICO® Xpress Optimization Suite to ensure that they are making the most efficient and profitable use of resources such as capital, human resources and technology assets. FICO Xpress Optimization Suite is also the optimization engine inside such leading FICO solutions as FICO® Decision Optimizer and FICO® Analytic Offer Manager.
FICO (NYSE: FICO) delivers superior predictive analytics solutions that drive smarter decisions. The company's groundbreaking use of mathematics to predict consumer behavior has transformed entire industries and revolutionized the way risk is managed and products are marketed. FICO's innovative solutions include the FICO® Score — the standard measure of consumer credit risk in the United States — along with industry-leading solutions for managing credit accounts, identifying and minimizing the impact of fraud, and customizing consumer offers with pinpoint accuracy. Most of the world's top banks, as well as leading insurers, retailers, pharmaceutical companies and government agencies, rely on FICO solutions to accelerate growth, control risk, boost profits and meet regulatory and competitive demands. FICO also helps millions of individuals manage their personal credit health through www.myFICO.com. Learn more at www.fico.com. FICO: Make every decision count™.
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