All posts by Bill Waid

Analytics & Optimization 5 Tips: Using Data & Analytics for Better Business Outcomes

Data analytics for competitive advantage
May042018

Leveraging analytics from insight to artificial intelligence (AI), business leaders can make sense of their rapidly-growing piles of data to improve their operations. Here are some tips for using analytics to create a measurable business impact. #1: Put the decision before the data With a decision-first strategy you define the business objective first, then determine what data and analytics you need to achieve the goal. Extrapolating insights from huge amounts of data can be interesting, but it can also be a tremendous waste of time and resources if it doesn’t solve a specific business challenge. If the modeling and data analytics requirements are defined by the business outcome first, data exploration and analytic development is faster and more productive. This helps enterprises narrow in on meaningful outcomes, shutting out extraneous noise and focus on the insights that address specific objectives. #2: Get data into decision makers’ hands Empower the business... [Read More]

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Analytics & Optimization Make Faster & Smarter Decisions with Machine Learning

Apr262018

Optimization of supply chain operations has become an imperative, as organizations grapple with customer demands, unpredictable events, and spiraling costs. On top of these persistent challenges, complexities are magnified by the myriad of tools required to manage everything from workforce schedules to resource allocation. To meet competitive demands, business decisions are needed quickly and accurately against an ever-evolving list of requirements and dependencies. But all too often, supply chains break down in the face of unanticipated factors or messy and incomplete data. To drive greater speed and precision in the supply chain, industry leaders are employing automation technology and visual insight capabilities. This traditional software driven approach can help but does not always suffice in the face of a growing number of variables and constraints. Today, many companies are transforming their supply chain challenges into business opportunities with powerful analytic platforms rooted in Artificial Intelligence and Machine Learning. Machine Learning... [Read More]

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Analytics & Optimization Want to Operationalize Analytics? Here’s Where to Start

Mar092018

Thoughts From Gartner’s Data and Analytics Summit This week I was at Gartner’s Data and Analytics Summit in Grapevine Texas, with my FICO team. This is an event we never miss, it’s attended by thousands of experts, analysts, data scientists and analytics leaders. This year’s Summit was dominated by presentations and conversations about data, analytics, explainable artificial intelligence (AI), and machine learning; nearly every discussion came to the same point — we want to use data and technology to gain competitive advantage and deliver real business value, but how? There was a wide variety of opinions, Gartner asserted that “to accomplish this feat, data and analytic leaders must master four key dimensions of scale: diversity, literacy, complexity, and trust.” In many of my conversations at the Summit, I shared my own view of what it takes to operationalize analytics. By this I mean, take all of the data and insights... [Read More]

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Analytics & Optimization Better Business Outcomes with Prescriptive Analytics and Machine Learning

analytics in cloud
Feb092018

Yesterday I had the pleasure of speaking at the Chief Data & Analytics Officer (CDAO) Winter event in Miami. If you’ve ever been to CDAO, you know it is quite a gathering of some of the smartest minds in analytics. Everyone I met had great stories to tell about the innovative work being done with analytics, artificial intelligence (AI) and machine learning (ML).  My keynote was focused on using AI, ML and prescriptive analytics to improve business impact and drive optimal outcomes. In partnering with FICO clients, I have found that combining ML with prescriptive analytics solutions delivers the best results when the strategic business outcomes are at the center and are the foundation that influences execution moving forward.  Defining a business outcome seems simple enough, but the more prescriptive you can be about what you want to achieve, the more positive impact the solution will have on the business.... [Read More]

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Analytics & Optimization Why FICO Was Named a Leader in Predictive Analytics

Woman with Predictive Analytics Formulas
Mar222017

Great news, FICO was named as a leader in the March 2017 report, The Forrester Wave™: Predictive Analytics and Machine Learning Solutions, Q1 2017. This is an honor, and it underscores for us the value and positive business impact our analytic solutions continue to deliver. These types of technology evaluations are really useful for organizations needing guidance as they enter into new strategic ventures. With plenty of attention on the promise of advanced analytics and machine learning, this report from Forrester is very timely. The report highlights: The Predictive Analytics and Machine Learning (PAML) Solutions market is “hot,” with Forrester forecasting “a 15% compound annual growth rate (CAGR) for the PAML market through 2021.” The true essence and core value of predictive analytics, stating “enterprises that can make probabilistic predictions about customers, business processes, and operations will have an edge over enterprises that can’t.” Machine learning is fundamental to artificial... [Read More]

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