fico

FICO Banking Analytics Blog

August 12, 2010

The folks over at the FICO Banking Analytics blog responded to my post on experimentation with their own take – The culture of experimentation. Worth a read as is the blog more generally, especially for those working with analytics in banking.

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First Look – FICO Xpress and Business Rules

February 17, 2010

Optimization is a mathematical process for finding the best decision for a given business problem – usually highest profit, lowest cost given a set of constraints. Involve applying an algorithm to data, decision variables, constraints and an objective function. In financial services and insurance optimization is still fairly new (unlike, say, supply chain) but the [...]

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First Look – TRIAD 8.5 and Decision Graph

February 15, 2010

TRIAD 8.5 has just been released and is the latest version of FICO’s combined account manager and customer manager platform for financial services companies (its focus is on accounts/customers where credit risk is a critical issue). I got an update recently focused on Decision Graph. Decision Graph is  one of the new capabilities. Decision Graph [...]

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More on replacing COBOL with something useful

February 10, 2010

Lisa posted an interesting comment on an old post of mine (Why don’t you replace COBOL with something useful (not Java)) in which she make some interesting comments:
I understand your last point that using a declarative “model” such business rules would be preferable to replace legacy COBOL applications instead of using a procedural language.
Indeed. [...]

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Business processes and decisions – an emerging consensus?

January 21, 2010

Bruce Silver wrote a couple of interesting posts on this topic – Integrating Process and Rules – Part 1 and Part 2. Reading Bruce’s posts, and thinking back on the various posts I have written about business process and business decision management (Risks of pursuing BPM without decisioning, Adding decisioning to your BPM initiative or [...]

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First Look – FICO Insurance Fraud Manager

October 20, 2009

I got a chance to catch up with Andrea Allmon of FICO to hear about their new Insurance Fraud Manager release (3.0 in July). This is a timely topic because of the debates around healthcare at the moment. In all the discussions about healthcare costs you never hear about the amount of fraud involved, yet [...]

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Enhancing BPM with Business Rules and Analytics at Air Products

October 7, 2009

Charlie Lewis of Air Products described how they have been using workflow and business rules (FICO Blaze Advisor). Air Products is a Fortune 300 company that primarily supplies industrial gases in a variety of markets. Charlie begun by describing the communication and work challenges of a diverse company across many countries where different groups have [...]

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Predictive analytics turn uncertainty into usable probability

July 31, 2009

Syndicated from ebizQ
Following on from yesterday’s post on analytics, let’s talk about predictive analytics. Another phrase I picked up while working at FICO was this one:
Predictive analytics turn uncertainty about the future into usable probability
Again, I don’t know if the phrase originated there or was just in common usage but it always struck me as [...]

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Analytics simplify data to amplify its value

July 31, 2009

Syndicated from ebizQ
With IBM’s announcement this week that it was acquiring SPSS I have been talking to a lot of folks about analytics. Analytics is one of those topics that is often on the edge of what IT people know so I thought a couple of posts on analytics might be useful.
Now analytics can mean [...]

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The dangers of scores in decision making

July 27, 2009

Last week I responded to some concerns raised about the dark side of analytics and this prompted a very thoughtful comment from Will Dwinnell who said
My fear is that much of the nuance about what a predictive model is really saying about airline passenger THX1138 is lost, and the security guard at the gate just [...]

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Decision Management Event Calendar for July 3

July 3, 2009

This week’s event calendar is below. The intent of this weekly post is to focus on web events coming in the next few weeks and conferences in the coming months. If you know about web or physical events around business rules, analytics, optimization or decision management, please let me know – james@decisionmanagementsolutions.com.
Web Events:

Silverlink: Applying Analytics [...]

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Decision Management Event Calendar for June 12 2009

June 12, 2009

This week’s event calendar is below. The intent of this weekly post is to focus on web events coming in the next few weeks though I will start to add some longer term conference links. Anyone who knows about web or physical events around business rules, analytics, optimization or decision management, please let me know [...]

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Decision Management Event Calendar

June 5, 2009

I have decided to start running a post at the end of the week highlighting relevant web events for the following week. If you work at a vendor and want to tell me about yours, please send me an email at james@decisionmanagementsolutions.com. Likewise if you hear of something you think other readers of the blog [...]

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First Look – FICO Blaze Advisor 6.7 and Decision Simulator

June 1, 2009

Back in March FICO released 6.7 of their BRMS Blaze Advisor. I got a chance to catch up with the release just recently. The focus of this release was the business user experience – an improved out of the box experience for business users. The business user experience has become increasingly critical as business users [...]

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Book Review – Blink

July 26, 2006

Blink: The Power of Thinking Without Thinking
The book is an easy read and full of wonderful stories and vignettes that illustrate Malcolm’s points. Essentially the book is about how people make rapid decisions, often before consciously processing the available data, and the good and bad consequences of this. We are all familiar with some of [...]

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