Rapid-I provides open source software for predictive analytics, data mining and text mining. Incorporated in 2006, they are based in Dortmund Germany and have been working on RapidMiner since 2001. They have over 35,000 production deployments and more than 400 customers in 40 countries. Banking and financial services is their largest market followed by Pharma [...]
champion/challenger
Zoot was founded in 1990 and has been providing hosted decision management solutions since 1992. With a focus on financial services, Zoot’s clients include 3 of the top 5 U.S. banks and they work with clients of all sizes and across all lines of business. Instant credit decisioning is one of their critical offerings, but [...]
IBM is announcing a new product and product positioning today. With the tag line “Turning Automated Decision Management into Real-time Operational Advantage” they have announced WebSphere Operational Decision Management. This new product is an evolution of the market-leading business rules management system, WebSphere ILOG JRules BRMS, united with IBM’s WebSphere Business Events. It brings business [...]
SAS 9.3 shipped a couple of months ago and it included an update of SAS Model Manager 3.1. Model Manager (reviewed here) is a product for managing the analytic model lifecycle once a model is built – validating, deploying, monitoring and retraining predictive analytic models. Model Manager is designed to help with some of the [...]
Decision Management Systems are the next generation of information systems. Agile, analytic and adaptive, Decision Management Systems put business rules management systems, predictive analytics and optimization to work improving the effectiveness and efficiency of your operations. Decision Management Systems are agile – easy to change, easy to keep compliant and transparent in their behavior. They [...]
I will be hosting a three part free webinar series How to Build Decision Management Systems this Fall. Decision Management Systems are the next generation of information systems. Agile, analytic and adaptive, Decision Management Systems put business rules management systems, predictive analytics and optimization to work improving the effectiveness and efficiency of your operations. Decision [...]
Have you looked at a packet of Epsom Salt recently? Here’s a product that describes itself as a soaking aid for minor sprains and bruises a saline laxative for the short term relief of constipation a plant nutrient for vigorous lawns, flowers, plants, vegetables and trees Three very different uses – after all, how many [...]
I got an update from in2clouds recently. Since I last wrote about them (see this First Look on in2clouds) they have made 3 key updates – they have added support for ensemble models, moved to allow private/hybrid cloud deployment and completed their service definition API. Ensemble models first. While using an ensemble model does not [...]
Cross posted at International Institute for Analytics McKinsey just published a new study “Big Data: the next frontier for innovation, competition and productivity” that is definitely worth reading. With lots of detail – it runs to more than 150 pages – it discusses why there is so much more data, what that means and how [...]
I just completed my presentation at RulesFest so here are the key points. For the RulesFest audience I assumed that either they were already using business rules or at least that they plan to be, and that they knew what a rule engine is and how it works. Before going on to my five points, [...]
in2clouds is focused on helping companies use Predictive Analytics to improve their business performance. Founded by MicroStrategy alumni and launched in 2009, in2clouds is a small company that has been working in hi-tech, financial services and retail. Seeing analytics as “the next big thing” they want to reduce the friction for mainstream adoption and help [...]
I got an update from SAS on SAS Model Manager recently. The new release came out August 17 alongside a new release of SAS Enterprise Miner and has some interesting new features. SAS Model Manager, as I noted in my previous review, supports the analytic model deployment lifecycle (from registering candidate models through validation, deployment, [...]
Syndicated from ebizQ The McKinsey Quarterly had an article today on Ten Tech-enabled business trends to watch and number 5 caught my eye -Experimentation and big data. As the authors say What if you could analyze every transaction, capture insights from every customer interaction, and didn’t have to wait for months to get data from [...]
I received an update from IBM recently on IBM SPSS Decision Management 6 and IBM SPSS Modeler 14. IBM sees organizations with many different data sources (inside and outside) that are moving from a traditional approach focused on reporting to one that involves “predict and act” – real-time, fact-driven decision making at the point of [...]
This is a piece I wrote for Chris Pratt’s quarterly financial institutions newsletter The use of technology to automate and manage decisions, especially high volume decisions essential to day-to-day operational execution, is expanding rapidly. Beginning with the consumer credit business, use of decision engines and decision management has spread to all aspects of financial services [...]
I did some work with Silverlink some time ago and was really impressed by their use of decision management to improve the communication of health plans and others in the healthcare space with members and patients. I got a chance to catch up with them recently to discuss progress and their use of adaptive control [...]
I got an update from GDS Link recently, a risk management solutions company focused on data access, decisioning and model implementation. Launched in 2006 by folks former Experian – Scorex management, the company’s core product is Dataview360 (launched in 2007). They have 23 customers worldwide. As I have noted before, a common problem in financial [...]
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 [...]
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 [...]
The folks from SAS gave me a quick update the other day on SAS Enterprise Miner and SAS Model Manager, two of SAS’ data mining/predictive analytics products. I often blog about SAS, as you would expect, but I have not done any product posts. SAS’ Business Analytics Framework is focused on helping organizations find the [...]
