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I got an update from the folks at FICO on the new release of Model Builder, their predictive analytics workbench. My last update was for Blaze Advisor 6.9 and Model Builder 7.0 and this release, Model Builder 7.1, is the first point release for Model Builder on the new 7.x platform. For those of you [...]

IBM and MIT/Sloan recently published “Analytics – the new path to value“. This study had a lot of interesting points and was very decision management centric in my mind. Some thoughts: The main challenges for companies adopting analytics were innovating to be deliver competitive differentiation and growing revenue. Reducing costs, gaining efficiencies and profitably retaining [...]

David McMichael of MetLife came next. MetLife Auto and Home is a mid size P&C insurance arm within the overall MetLife group. David runs the Quantitative Research and Modeling team within the actuarial department. Team has grown over the last few years with a diverse set of people, something they find very valuable and expanded [...]

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, [...]

Syndicated from BeyeNetwork I was struck today by a short but effective Information Builders PowerPoint – Four Worst and Four Best Practices in Business Intelligence. I really liked the worst practices – especially the one about assuming that business people have the skills or time to learn to use a BI tool. I blogged not [...]

New data mining competition

IEEE ICDM Contest: Road Traffic Prediction for Intelligent GPS Navigation Over the last century, the number of cars engaged in vehicular traffic in cities has increased rapidly, causing many difficulties for all citizens: traffic jams, large and unpredictable communication delays, pollution, etc. Excessive traffic became a civilization problem that affects everyone who lives in a [...]

I got my first formal briefing from REvolution Computing recently. REvolution has been around for about 2 years. Originally they focused on bringing parallel computing power to R and providing some consulting around the language. They raised some new funding recently and now have a new management team, including CEO Norman Nie (co-founder of SPSS) [...]

Jeff Jonas of IBM had a great post on Some Organizations Will Be Smarter-er Than Others recently in which he discussed his “obsession with real-time sensemaking systems”. Now I like the phrase and, in the context of real-life, it is clear what it means. But for a business, what does it mean? Well sometimes it [...]

I often tell folks that one of the benefits of decision management is that it enables analytic decision making – that is decisions based on accurate analysis of data about what works and what does not – even by people who don’t have any analytic skill. For instance, using analytics to assess the credit risk [...]