Decision Support and Simulation

Overview

Decision Support and Simulation

Companies face a wide range of decisions from strategic and operational to tactical. Decision Support is designed to help companies make better decisions by supporting or improving decision making capabilities. One of the best ways to do this is to understand the impact of changes to strategies or decisions before you implement them. This is called simulation and FICO has state-of-the-art technologies to enable you to understand the impact the data will have before you implement with real customers. FICO Business Outcome Simulator enables business leaders to perform and visualize simulations of their end to end analytic-driven decisioning process/flow, resulting in increased transparency and collaboration between the business users, data scientists, analysts, and operations managers to achieve a desired business outcome. With a complete multi-dimensional understanding of business impacts (opex, operating envelopes, expected losses, expected profitability, expected market share, disruption impacts, etc) business can proceed with improved confidence that analytically-driven decisions will yield expected outcomes with greater confidence.

Capabilities

FICO solutions offer a wide range of capabilities, empowering you to make smarter, personalized decisions, streamline operations, and improve the customer experience.

Reduce decision complexity

Reduce decision complexity by enabling business and technical users to run what-if analyses and quickly compare multiple possible scenarios.

Simulations

Run simulations of analytic or optimization models or business rules — once a model achieves the desired outcome, it can be published to a business application.

Data Comprehension

Enable data comprehension for all levels of the organization with simple interfaces and robust reporting capabilities.

Testing

Allow business users to execute champion/challenger testing and easily adapt, change, or adjust to different directions with efficient simulation and iteration.

Increase business user adoption

Increase business user adoption — provide business users with a modern, easy-to-work-with solution that enables and encourages collaboration.

Technical Details

FICO solutions are built on the most advanced analytic science, leveraging decades of pioneering innovation and real-world expertise.

Put the power of analytics and optimization in the hands of business users. FICO Business Outcome Simulator is a good transition point between the data scientist (model developer) and the business analyst/user (the person who validates and moves the model

Empower data scientists and business users to collaborate in one environment and interface. This allows the data scientist to recalibrate the model on the fly, without having to go back into a separate environment, then handing it off to the business user in the same environment. The business user can view and create a new scenario in that same environment, put the scenarios side by side and compare. Once both parties have agreed to the changes, they can deploy the model into production as a powerful business application for the business user to use on a regular basis.

Data scientists and Operations Researchers can directly deploy their Python models into user friendly apps in FICO Xpress Insight and get their models directly into the hands of business experts.

Quickly move leadership vision into proof of concept with early model visualization.