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dataGlobal analytics firm FICO has launched a number of new and updated offerings to enable businesses to develop prescriptive analytics and decision management applications and improve business decision agility.

The Decision Management Suite 2.0 product – an updated version of the same name – enables customers to develop analytic applications in the cloud and improve automated business decision agility. The Decision Central offering manages, audits, reports and updates decision logic and predictive models, so customers can record and store automated decisions so they can be reused, modified and improved. Finally, the Strategy Director tool helps users structure the decision flow. The tools are available through Amazon Web Services or as a private cloud or on-premises deployment.

“Many Big Data deployments have failed to deliver competitive advantage because their approach is completely backwards,” said Stuart Wells, CTO at FICO. “We focus on decisions-first, as opposed to data-first. That gives our customers the fastest route to real value, and the agility to change course faster than the competition. It means being able to innovate like start-ups. Some of our Decision Management Suite customers have reduced the time to deploy an analytic application from months to days, and the time to model a decision and act on it from weeks to minutes.”

While the concept of Big Data has been around for some time many business struggle to comprehend the vast amount collated, to utilize it within the organization in any meaningful manner. The FICO product suite is one of a number of new products in the industry which aims to bring all this data into one concise system, and ultimately drive decision making capability through the insight uncovered.

“The original launch of the FICO Decision Management Suite in 2013 represented a dramatic change in decision logic authoring and application development,” Wells said. “Now, with version 2 of the Decision Management Suite, FICO’s customers have the chance to pull even further ahead of their competitors. This product suite represents the future of prescriptive analytics and decision management, and it’s available now.”

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