The ability to simulate business and decision strategies with FICO® Platform empowers customers to evaluate, understand, and explore the business impact of digital operations before production deployments
Highlights:
- Improvements to digital simulation enable companies to develop confidence quickly, explore alternatives easily, and innovate faster while reducing risk.
- FICO® Platform delivers 20+ enhancements to capstone its 2023 innovation roadmap.
- FICO will be showcasing the innovations and use cases for FICO® Platform at FICO® World, FICO’s premiere client event, on April 15-18, 2024, in San Diego.
Global analytics software leader FICO today announces 20+ new enhancements to FICO® Platform that will enable enterprises to better navigate an uncertain market and make and operationalize informed business decisions that improve profitability, reduce risk, and create more value for their customers – all at unmatched scale and market-leading speed. The updates include robust innovations in digital simulations, which are an integral part of helping financial institutions and other forward-thinking businesses accelerate their digital innovations. All new enhancements are designed to help businesses solve complex operational challenges while unlocking customer value in connection with driving clear strategic business outcomes.
One of the most significant updates is within the Digital Twin and Simulation capability, which enables users of FICO® Platform to create an enterprise digital twin of their organization and unlock the power of business simulations. This allows businesses to experiment across many dimensions, not previously possible, to find optimal business outcomes. Updates include faster deployment for increased efficiency, thorough validation of changes to decision strategies, and better understanding of the impact on business KPIs such as profitability metrics.
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“Deploying digital simulations allows businesses to safely experiment with incremental and multidimensional new business scenarios to optimal outcomes, take advantage of new opportunities, and transparently respond to business priorities to achieve higher performance,” said Bill Waid, chief product and technology officer at FICO. “With the new advances from FICO Platform, our customers are able to deliver compelling new consumer value and achieve their strategic business outcomes.”
As a leader in analytics and applied intelligence platform technology, FICO helps clients deliver exceptional hyper-personalized customer experiences. FICO® Platform powers enterprises to drive the most critical and strategic business outcomes across the customer lifecycle. The next generation applied intelligence platform enables enterprises to use customer data, AI/machine learning, and analytics to drive smarter business decisions, at scale, across a myriad of enterprise use cases.
According to a commissioned study conducted by Forrester Consulting on behalf of FICO: “Succeeding in business is ultimately about making the right decision at the right time. Regardless of industry, knowing not just the right decision but also the right time to act and what to do next are vital for success — and with data sources and variables rapidly multiplying, it’s never been more difficult. AI decisioning platforms automate decisions using a combination of decision intelligence technologies to author, automate, and continuously improve business decisions.”
SOURCE: Businesswire