With data suggesting that most digital transformation efforts are doomed to failure, it’s no surprise that these organizations are missing something. One element that’s absolutely critical is a brain and central nervous system that enables the organization to operationalize data-driven decision making across their organization. This is called a Digital Decisioning Platform (DDP), and FICO’s DDP, the Decision Management Suite was today named as a leader in this space. To quote Forrester:
There are no holes to poke in FICO Decision Management Suite (DMS) — it provides all the tools necessary to manage and deploy digital decisions that will standup to the highest standard of regulatory rigor.
Why does this make such a big difference? First off, moving beyond data science and AI in the laboratory, a decision-centric approach enables organizations to not just gain analytic insights, but operationalize these insights to create business outcomes. Second, a platform approach enables organizations to work holistically and use common tools to do everything they need to optimize their customer interactions with AI-powered intelligence. This includes gaining a 360-degree view of disparate customer data, applying the latest AI and advanced analytics to gain new insights, using these learnings to make better business decisions, and putting decisions into action across their organization.
While it’s no secret that FICO is a market leader, The Forrester Wave™: Digital Decisioning Platforms, Q4 2020 demonstrates, in our opinion, independent recognition that our ability to execute is second to none. Too many vendors today are tall on AI & ML hype and short on creating meaningful business results for their clients. We believe the new report shows that we have the strongest current offering available on the planet today.
I’d encourage you to read the entire report (complimentary copy available from here), however I also wanted to provide a few of my key highlights and takeaways that I’ve found to be particularly noteworthy.
- FICO received the highest possible score in the Data Integration criterion. Without unifying disparate data that sits in silos across the organization, it’s not possible to gain complete view of the customer. Our unique capabilities for Data Orchestration, building Data Pipelines, designing Business Terms Libraries and creating Profile Stores enable our customers to not just create a messy data lake, but create a structured yet flexible system to share higher level decision assets like data characteristics and customer profiles across their organization and put these assets into action in their production systems.
- Second, we also received the highest possible score in in the Ability to Execute, Enablement, and Market Awareness criteria, and tied for the highest score in the Testing criterion. Simulation, validation, and testing is another area that our customers use to differentiate their business by driving continuous learning in their organization. They effectively create a digital representation of their business that enables them to rapidly perform what-if analysis, apply adaptive control, and use mathematical optimization to balance competition priorities and deliver customer-focused results. We believe the research from Forrester validates that advanced experimentation and testing capabilities are key to digital decisioning, and that FICO has a highly advanced enterprise solution. Again, to quote Forrester Research:
FICO shows strengths across all evaluation criteria and stands out by offering a native and integrated mathematical optimization engine — a rarity in this market segment.
Our work is not done. We continue to invest heavily in the FICO Platform as the core future of our software business, and as a differentiator that sets our solutions and applications apart from the competition. When you solve a use case with the FICO Platform, you not only get fast time to value and results for your immediate need, but you also help to lay the foundation for accelerated success now into the future.
Digital Decisioning Platforms (DDPs) are an essential ingredient for customer focused digital transformation. To learn more about DDPs and how they can help your organization, please review the 2020 Decisioning Wave from Forrester.