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 modelling 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 analysing 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 democratise analytics by putting the best technology and tools into the hands of diverse users, with different skillsets, at organisations 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.”