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FICO Delivers Mission-Critical Artificial Intelligence in the Cloud

FICO showcases next generation decision optimization and enhanced decision management platform at its analytics conference.

Note: TDWI’s editors carefully choose vendor-issued press releases about new or upgraded products and services. We have edited and/or condensed this release to highlight key features but make no claims as to the accuracy of the vendor's statements.

At FICO World, analytics software firm FICO showcased the latest enhancements to FICO Decision Management Suite (DMS), which leverages artificial intelligence (AI), machine learning (ML), advanced analytics, optimization, and decisioning to deliver better, more predictive business outcomes.

According to Jari Koister, vice president of product management at FICO, “DMS supports the full life cycle of decision, analytics, and AI-driven applications, this includes data ingest and management, collaborative development, scalable elastic execution, and management and performance tracking of models.”

New capabilities include: 

DMS in the Cloud

The new Enterprise Grade Cloud Service is a managed service offered in a FICO data center or on AWS. This new service provides everything an enterprise needs to run and operate decision management solutions in the cloud, including infrastructure, support, architecture best practices, and life cycle services.

Tools and Execution Platform for Mission-Critical AI

FICO now offers a robust analytics development tool that was built from the ground up to be fully integrated with the decision platform. With the FICO Analytics Workbench, both business users and data scientists have access to sophisticated yet easy-to-use data exploration, visual data wrangling, decision strategy design, and machine learning. The Analytics Workbench effectively bridges techniques such as decision trees and scorecards with ML, offering the best of both worlds. It also offers an explainable AI toolkit that enables organizations to validate and interpret models as well as individual model executions.

The Analytics Workbench has been purposely designed for a wide variety of users with varied skill sets to work together within the same solution environment to inform and enrich strategic decision making. Business analysts will appreciate the simple pathways for exploring and modeling data, and data scientists will value the analytics notebook and its array of popular data science languages. With an intuitive user interface, users can expect faster time-to-value, higher levels of productivity, and significant business improvements through analytically powered decisions.

Analytics Workbench is supported by ML model execution on the FICO Decision Management Platform (DMP). Model execution on DMP supports common ML libraries as well as FICO’s differentiated models for anomaly detection.

Centralized Decisioning and DMS Hub in the Cloud

Now available in the cloud, FICO delivers centralized decisioning to help enterprises provide consistent, personalized customer engagement at scale and have the ability to measure business outcomes and simulate alternative strategies for continuous improvement. Centralized decisioning capabilities coupled with the DMS Hub also deliver performance tracking, governance, source code control, and collaboration for analytics and AI models.

“Adopting centralized decisioning requires more than just a common execution platform or technology standard; it requires a rich set of capabilities that enable the business to manage, measure, understand, and improve outcomes,” said Bill Waid, general manager, FICO Decision Management.

Next-Generation Decision Optimization

Now available in the cloud, FICO Decision Optimizer enables businesses to discover optimized decision strategies that balance trade-offs between cost, risk, and reward while factoring in economic and market conditions. Its advanced decision impact modeling, simulation, and optimization capabilities enable business users to assess and improve the decisions that drive customer interactions and business results.

“FICO Decision Optimizer marries the best of optimization with the best of decisioning,” said Koister. “With Decision Optimizer, enterprises can give domain experts and business users the control to simulate and optimize a wide range of decisions. This provides valuable insight into the impact of various scenarios, utilizing different goals and constraints while applying stress tests and allowing for uncertain events.”

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