04/17/2024 | Press release | Distributed by Public on 04/17/2024 15:28
Two-time Nobel Prize winner Linus Pauling - whom New Scientist calls one of the 20 greatest scientists of all time - liked to say, "The best way to get a good idea is to get a lot of ideas… and then throw away the bad ones."
Pauling's words sprang to mind regularly over the past year as we developed the newest release of FICO Platform. We know that great ideas are spread all over your company and getting to them can be difficult. That's why the Spring 2024 release of FICO Platform is brimming with new features designed to maximize information-sharing, employee collaboration, and decision-making.
Our collaboration, teamwork, and decision-making management tools give your team access to all the information needed to combine their best thinking: technologists, businesspeople, and customer-facing domain experts, all fusing their ideas into customer-centric game changers for your company. And by combining their unique perspectives and employee domain knowledge, the resulting ideas embody your organization's best thinking about what will resonate in the marketplace, and what is technically feasible.
FICO Platform improves collaboration at every stage of the strategic decision-making process by serving as a robust, four-stroke business decision engine that helps companies master and continually optimize the four stages of the decisioning cycle: data, insights, actions, and outcomes.
Features in the new release of FICO Platform include enhancements for simulating strategic real-world scenarios - using "digital twins" - allowing for an unlimited number of input transactions in simulation scenarios, more granular control of input data, better what-if analysis, and optimal decision-making. These include:
Though the major thrust of the new release of FICO Platform is on collaboration, personalization, smarter ways of working, and optimum decision-making, we've also added a significant number of new platform-wide enhancements that create the foundation for building powerful enterprise intelligence networks across your company.
Building upon these I am pleased to share a glimpse into what is on deck:
1.Enterprise feature management - Greatly enhanced interoperability, reusability and deep assimilation of data insights make it easy to quickly create new go-to-market products.
2.Event-driven business - Deeper understanding of customer moments, and precision-guided timing of customer strategies and touches.
3. KPI-linked operational data - Platform-generated strategy recommendations based on your KPIs and your operational data to provide improved visibility into customer actions and their correlation to business goals.
4. Business observability - Deeper insights into how specific business decisions are made and how they are impacting business outcomes, to guide agile improvement of decisions.
5.Augmented outcomes - Watches your key KPIs & keeps you updated in real-time, and Increases understanding where and how to target improvements in the business decision landscape as automated decisioning scales across the enterprise.
6. Transparency, impact and governance - Boosts your innovation cycles and preserves confidence in underlying development technology with AI by clearly documenting and presenting its impact on business decisions and outcomes.
7.Business composability - Composability makes it easy to transform complex, single-use software into smaller, ready-to-use modular services that can be discovered, shared, combined, and recombined companywide, to enable rapid innovation.
8. Open ecosystem expansion - Open ecosystems are a proven, efficient, modular way of collaborating both internally - in support of enterprise systems across organizational functions - and externally to accelerate innovation through co-creation with 3rd party partners.
9. API-first enablement - APIs provide easy, versatile, and secure way for companies to create cross-enterprise and cross-ecosystem business processes and decisioning solutions; this allows new information-based products and services to be developed and deployed in a fraction of the time required by traditional approaches.
All of these new capabilities result in synergy that leads to better decision-making and winning in the marketplace. Lots of companies in our industry use Legos® to describe the modularity, components, composability, interoperability, and reusability of their software architectures. And while that metaphor works in theory, it misses the larger, holistic benefit we see with our clients every day.
Think about it: in real life, what happens when you put kids in a room with large tubs of Legos? They build things. They copy and improve on one another's ideas. They work together and endlessly create incredibly clever new structures… some of which become official Lego products. https://ideas.lego.com/projects/create.
FICO Platform instills that sense of discovery and innovation across your entire organization, by making it easy to collaborate, share, and build upon one another's best ideas. And that, in turn, results in the sort of unique new products and services that lead to compelling customer experiences, improved decision-making, and, ultimately, higher levels of customer satisfaction. So, start building those good ideas, and leverage them to your competitive advantage in the marketplace.