I had to wade through a lot of marketing to get to the core of this news from a company that I don’t know. The company is FICO (Fair Isaac Corporation). Founded in 1956 (almost as old as me), it’s a business analytics, data science, predictive analytics company. Of interest to us is work in supply chain resiliency.
The company announced more than 20 enhancements to its Platform.
The updates include robust innovations in digital simulations. 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.
Among the 20+ enhancements, key improvements to FICO Platform include:
- Data Connection and Ingestion – Our latest data-focused enhancements aim to break down organizational siloes and put data into motion with improved data pipelines, a high-performance hotlist service, enriched data feature libraries, and an easy-to-use database service.
- Applied Analytics & ML and Enterprise Optimization – These updates are focused on enhancing clients’ ability to build world-class predictive credit analytics and ML models, pull in third party models, and apply mathematical optimization to new domains. This release includes improvements to our proprietary segmented scorecards, multi-target scorecards, reject inference, Python APIs, ML execution and optimization solver performance enhancements, and the launch of a new global optimization solver.
- Intelligent Decisions and Business Composability – This release supports lifecycle management for fine-grained control to easily manage and promote projects from design, staging, and production for even the most complex enterprise environments with better isolation to compress and safely scale change cycles. Additional enhancements provide deeper native integration with other FICO capabilities for applied analytics & ML and simulation so teams can work efficiently across the entire decision intelligence value chain.
- Digital Twins and Simulation – In this space we dive deeper into the development of a digital twin for businesses to enable experimentation within our Simulation Capability. Our latest release makes it easy for business staff to rapidly construct new business scenarios, pressure test possible changes, validate strategies, and simulate the effects on business KPIs to easily measure operational impact and move fast with confidence.
