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Overview

Making customer-focused decisions that balance risk and profit just keeps getting harder. And even when you think you have the right decisions, turning them into actions can be even trickier. You also need to consider the factors that make smart decisions difficult. Big data. Regulations. Customers who want an offer, fast, or else you’re going to lose them. Even incremental investments in advanced analytics can pay off, but to be truly successful, organizations have to put these tools into the hands of their lines of business, not just the data scientists and operations researchers who have traditionally owned this domain – without impacting an already overloaded IT department. This white paper covers how the collision of economic, technological, and human factors mandates a new approach to decisions – leveraging prescriptive analytics across the enterprise.

Overview

The "Business Rules Approach," which has held sway for over a decade, is being replaced by a new paradigm: decision modeling. 

Decision modeling will transform the way companies use decision management products. It will provide a business-friendly, primarily graphical environment for configuration and maintenance, and a seamless linkage between rules, analytics and optimization.

For Industries: 
Retail, Retail
Overview

How do you launch a loyalty program in a saturated market during one of the worst years for grocery sales in decades…and rocket to success? A top Canadian grocer’s loyalty program uses sophisticated analytics to identify—from 380 billion+ possible combinations—the handful of offers that will be most relevant to each customer that week. As a result, more than 40% of grocery sales now come from loyalty members, who make more trips and buy bigger baskets than nonmembers.

This white paper looks at how the retailer:

  • Knows when and what customers will buy
  • Predicts individual demand elasticity to point thresholds in offers
  • Optimizes offer sets for best customer-company outcomes
  • Learns what causes customers to buy
For Industries: 
Banking, Banking, Banking, Banking, Banking, Banking
Overview

Over 50 million US adults don’t currently have FICO® Scores because of sparse or old data in their credit files, or because they lack a credit file all together. Can scoring help lenders safely and responsibly extend credit to these consumers?

New FICO research says yes—but only when credit bureau data is augmented by the right alternative data. This white paper presents key research findings showing how:

  • Scoring more people without more data harms consumers and creditors
  • Unscorable credit applicants are not all alike
  • Alternative data scoring releases millions stuck in a credit catch-22
  • Millions score high enough to qualify for credit, with most going on to improve their credit status
For Industries: 
Agencies, Government, Government
Overview

Assessing your collection and recovery processes shows how you can:

  • Evolve from "seeming productive" to measuring actual effectiveness and profitability 
  • Strike the right balance between the constituent experience and operational cost 
  • Identify siloed practices inhibiting collection and recovery efficiency and effectiveness 
  • Understand agency performance compared to industry best practices 
  • Align current technologies with processing to optimally perform and achieve better results
For Industries: 
Banking, Banking, Banking, Banking
Overview

On any given day, US consumers are bombarded with various advertisements for "free" credit scores. These offers come from a wide variety of vendors who tout the benefits of knowing one's credit score. Yet, despite that onslaught, surveys show that most consumers understand very little about credit lending decisions and even less about credit scores.

For Industries: 
Banking, Banking, Banking, Banking
Overview

FICO® Score Open Access enables financial institutions to share FICO® Scores previously purchased for risk management decisions with their customers for free — and so much more. FICO® Score Open Access advances financial literacy by giving consumers — through their financial institution — a wealth of educational content to help improve consumer credit and financial health management understanding, drawn from FICO's deep experience educating consumers through www.myFICO.com and www.scoreinfo.org for over 10 years.

For Industries: 
Banking
Overview

Working with issuers across Europe, FICO has seen big changes in the fraud landscape. These changes are illustrated by new data from Euromonitor International, which show how different countries' defences against fraud, their adoption of powerful analytics and their use of EMV technology have pushed criminals from one country to the next and from one form of attack to another. This white paper provides a snapshot of these trends for 2014, as well as commentary from Martin Warwick, FICO's fraud chief for Europe.

For Industries: 
Banking, Banking, Insurance, Insurance, Retail
Overview

After fifty years of using information technology to increase the efficiency of business processes we are now firmly in the era where technology is also being used to provide us with information. Business intelligence allows us to establish what has happen ed and is happening in our business (often called descriptive analytics), and predictive analytics uncover patterns which can be useful in the prediction of future events. This doesn't complete the picture however. Descriptive and predictive analytics may tell us what has happened and what may happen, but they do not tell us the best way to deploy our resources to meet the demands of the future. An example will clarify. In a retail environment our descriptive analytics will tell us sales volumes, seasonal fluctuations and so on. Predictive analytics may give us insights into which products tend to be purchased together. Armed with this knowledge we then need to know how shelf space should best be allocated and more generally how resources should be utilised to maximise revenue and/or profitability. This is where prescriptive analytics fits in - think of it as a prescription for action.

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