Category Archives: Analytics & Optimization

Analytics & Optimization How to Make Artificial Intelligence Explainable

How to Make Artificial Intelligence Explainable
Sep132018

How to Make Artificial Intelligence Explainable – A New Analytic Workbench FICO today announced the latest version of FICO® Analytics Workbench™, a cloud-based advanced analytics development environment that empowers business users and data scientists with sophisticated, yet easy-to-use, data exploration, visual data wrangling, decision strategy design and machine learning. As new data privacy regulations shine a spotlight on AI and machine learning, the FICO Analytics Workbench xAI Toolkit helps data scientists better understand the machine learning models behind AI-derived decisions. “As businesses depend on machine learning models more and more, explanation is critical, particularly in the way that AI-derived decisions impact consumers,” said Jari Koister, vice president of product management at FICO. “Leveraging our more than 60 years of experience in analytics and more than 100 patents filed in machine learning, we are excited at opening up the machine learning black box and making AI explainable. With Analytics Workbench, our customers... [Read More]

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Analytics & Optimization Why Optimize Mortgage Loans? (Video)

How to Optimize Mortgage Loans
Aug292018

Earlier this year at FICO World 2018,  we held a session on the growing application of pricing optimization to mortgage loan books. We invited one of our clients, National Australia Bank to speak about its journey using this type of advanced analytics. Check out this short video where presenter Josh Brougham, Head of Pricing for Mortgages at  National Australia Bank, explains why pricing optimization was a priority for the bank. Why Optimize Mortgage Loans? – Transcript:  How has optimized pricing put NAB at the top of the lending game? It has really freed up smart people to do what they do best, which is to design strategies for certain customer groups to allow us to win market share. It has removed the distraction of using ad-hoc pieces of analysis using very disparate data sets and giving them a really sophisticated toolset to enable them to deliver business value. Why was pricing optimization... [Read More]

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Analytics & Optimization Ignite Machine Learning with Decision Rules

Chalkboard with Machine Learning on it
Aug152018

When today’s businesses create a list of must-haves in the race to alter and ultimately transform how they operate, machine learning is one of those checkbox necessities. And indeed, when you run the gamut of business-consumer touchpoints, machine learning is, indeed, one of the mainstays. What’s machine learning, and why is it needed? Machine learning is powered by algorithms that learn from data, identifying critical patterns, connections and insights – without being programmed to reach specific conclusions. Machine learning enables more data of multiple types to be analyzed quickly, in order to derive maximum benefit from it. It takes advantage of exponential boosts in data storage capabilities and computing power (at a fraction of the cost than what was previously possible) to help make faster, smarter decisions while constantly learning, evolving and providing unexpected new insights. Where machine learning models are superior to traditional approaches One of the core benefits... [Read More]

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