In an era where Big Data decisions demand high-powered tools, organizations everywhere are still mired in complex spreadsheets that limit the speed and precision of their critical customer interactions.
Read this fact sheet to learn how you can evolve beyond what spreadsheets alone can achieve:
• Allow business users to easily create and compare “what if” scenarios, interact with compelling visualizations, and challenge, improve and build trust with stakeholders and collaborators
• Rapidly deploy new optimization features and applications practically at the speed of thought – without leaning on IT – while leveraging existing investments in other analytic tools (such as R, SAS, MATLAB, and even Excel)
Whether you’re onboarding new customers, cross- or up-selling, getting your supply chain or logistics right, or even collecting unpaid debt, making the best choice of decisions means weighing not just what’s right for your department – but what is best for the business overall. Not to mention what is optimal for your customers and partners.
And let’s face it, even with the availability of business intelligence and other analytic tools, it’s hard to know what constitutes the right actions to take in an era where Big Data consistently throws you curveballs. Prescriptive Analytics can help – but for most organizations, there are more questions and concerns than answers about how to implement it successfully.
Read our white paper on how Prescriptive Analytics can transform your business decisions and actions – leveraging your existing analytics investment and organizational DNA while helping you drive transparency, customer experience, and profits
Many organizations consider optimization only for their largest or most challenging business problems, often utilizing a small number of Operations Research professionals. But in our age of Big Data, market globalization and increased competition, many organizations are successfully making the case that optimization can be applied to a wider variety of business and operational decisions, and be developed by a new group of users — the organization’s business analysts.
With a proven track record of results demonstrating that organizations can increase profitability with business analysts applying optimization to many types of business problems, FICO’s proven development methodology is giving organizations the confidence to extend optimization practices across their enterprises.
Competing in telecommunications markets is becoming extremely complicated. Responding to disruptive change from many directions, telecom companies are experimenting with new business models and offering new types of services. With this comes the potential to draw new waves of regulatory oversight, further complicating the picture.
Agencies have long provided telecommunications companies with scalability for collections in a high-growth industry. Today, with markets and business models changing, your collections agencies have a growing impact — for good or ill — on your success.
In saturated, contested telecom markets, credit origination has become a strategically important capability in acquiring and retaining the right mix of customers. Being quick and adept at making enormously complex decisions — involving product bundle eligibility and pricing, deposits, credit limits, device financing rates and terms — has far-reaching effects beyond market share and current revenue.
Today it's easy for customers to leave, and they have fewer reasons to stay. In saturated telecom markets, competitors offer similarly high levels of coverage and service. Years of price-based competition have left little room for differentiation and margins are stretched thin.
When automating decisions, organizations need a platform for defining the policies and regulations that drive those decisions. Choosing the right business rules management system is not enough to pick the right technology.
Published By: Red Hat
Published Date: Jun 23, 2016
FICO, a data analytics software company, wanted to diversify into new markets its core offering of providing on-premise software to major corporations. To do this, the company launched FICO Analytic Cloud, a cloud delivery channel that enables FICO to serve organizations of all sizes. FICO Analytic Cloud was first launched in 2013 and provides Platform-as-a-Service (PaaS) access to FICO Decision Management Platform, which allows customers to use FICO tools and technology to create, customize, and deploy applications and services. FICO Decision Management Platform is built on OpenShift Enterprise by Red Hat, which provides the PaaS tools and support FICO needed to rapidly scale the platform and Analytic Cloud.
Published By: Red Hat
Published Date: Nov 30, 2015
FICO, a financial services provider, wanted to address small-to-medium business (SMB) and midmarket customer requests for solutions without on-premise installation. To transition from an on-premise model to a cloud- and services-based infrastructure, FICO chose to build an OpenStack® cloud using Red Hat® solutions, including OpenShift by Red Hat and Red Hat Enterprise Linux® OpenStack Platform. As a result, FICO generated US$10 million in sales to new customers, reduced solution time to market by 50%, and lowered storage and overall infrastructure costs.
As IT departments’ lists of backlogged application development projects keep growing, so does the speed of new development requests from line-of-business personnel. For many IT departments, the speed of business — the speed of requests for additional developments — can’t be met under current practices. This inability to keep pace with critical development requests, supporting timely strategy modifications, seriously impacts an enterprise’s profitability. The solution FICO advocates — one that accounts for budget constraints, legacy operational realities and quality assurance — is to empower line-of-business personnel as Citizen Developers, giving them the right set of technology assets to quickly, safely and cost effectively participate in application development.
As any line of business (LOB) leader knows, making customer level decisions that balance risk and profit just keeps getting harder. And even when you think you have the right decisions, turning them into actions can be even trickier. You also need to consider the factors that make smart decisions difficult. Big data. Regulations. Customers who want an offer, fast, or else you’re going to lose them.
With the increasing mainstream adoption of big data infrastructure — highly distributed file storage and query tools — more businesses are taking a new look at what business intelligence and analytics can do to grow revenue, increase profits and ultimately develop strategic relationships with customers.
The bank wanted to be more consistent, agile and segmented with its implementation of strategies in origination and account management. By applying decision management technology, they were able to achieve success. Download now to learn more.
Prescriptive analytics enable you to estimate and compare the likely outcomes of any number of actions, and choose the very best action to advance business objectives. And getting there isn't as difficult as you think. Start your journey by downloading this eBook.