Tag Archives: Cloud Computing

Analytics & Optimization Are Banks Embracing Public Cloud?

analytics in cloud

Banking is one of the most regulated industries in the world, often saddled with antiquated regulations that are not keeping up with the digital world. Many believe these regulations have kept banks away from the benefits of cloud computing, in particular services hosted on a public cloud. But that is changing. In recent years, FICO has been democratising analytics and enabling organisations of all sizes to harness the power of analytics-based decisioning.  This process is driven by cloud computing. The opportunity for enterprises to leverage cloud based analytics is especially compelling in the area of real-time and near-real-time communications.  Consumers demand multi-channel communications that are effective, mobile and in line with their individual needs and preferences. Are banks ready to undergo the digital transformation of their business model in order to respond effectively to those needs whilst maintaining regulatory compliance?  In short, yes – responding to customer needs has always been essential... [Read More]

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Analytics & Optimization An IT Perspective: Why We Embraced OpenStack


One of the most exciting innovations at FICO in recent years was the launch of the FICO® Analytic Cloud. We developed our cloud to democratize access to analytics, and we built our cloud on OpenStack — an open-source, infrastructure-as-a-service platform. Our director of engineering and cloud services, Nicholas Gerasimatos, recently talked about our experience with OpenStack at the OpenStack Summit 2015 in Vancouver. During an interview with SiliconANGLE, Nicholas discussed the strategic benefits of building on OpenStack as well as the challenges of developing on an open source platform. As you’ll see, we’re big believers in open source for present and future of development. We couldn’t imagine taking on a project like the FICO Analytic Cloud with a proprietary platform. We hope you enjoy the interview, and we’d love to hear your take on OpenStack.

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Analytics & Optimization Video: How We Built the FICO Analytic Cloud


Last month, at the Red Hat Summit, our Cloud engineering team gave a presentation walking through the technology we used to build the FICO® Analytic Cloud. Below is the video from the talk. We developed the FICO Analytic Cloud using Red Hat’s portfolio of products, such as OpenShift by Red Hat, Red Hat Enterprise Linux OpenStack Platform, Red Hat CloudForms, Red Hat Enterprise Linux, Red Hat JBoss Middleware, and Red Hat Ceph Storage. Thus, why we were invited to the Red Hat Summit. In the video, the team describes how this technology has helped drive more than US$10 million in sales in a short timeframe, winning business from companies that otherwise couldn’t have afforded the time or cost of implementing our sophisticated analytics solutions. Using the Red Hat technology, we reduced infrastructure operations staffing by 20 percent, saved hundreds of thousands of dollars in hardware costs, and improved time to market by 70... [Read More]

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Analytics & Optimization Why We Built Our Own Analytic Cloud


Not too long ago, deploying advanced analytics required massive investments in IT infrastructure and application software, creating a sort of “analytic elitism.” Over the last year we’ve been focused on democratizing analytics, so that organizations of all sizes can base their operational decisions on data. And to do this we needed to build our own cloud infrastructure.

But why? Why did we decide to build our own infrastructure rather than leveraging a hosted provider like Amazon Web Services (AWS)? This was hotly debated within our company and essentially it came down to three very important reasons:

Cost: While AWS, Microsoft Azure, the Google cloud and other cloud hosting providers garner significant attention and mindshare, first and foremost their value is speed of resource delivery. When and if a customer needs server and computing resources, the network for these services can be deployed and accessed in very little time. Speed is a critical value for hosting service customers. By partitioning and deploying compute resources in minutes or an hour...

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Analytics & Optimization Myth Busters: The Analytic Talent Crunch Will Constrain Big Data Innovation


Earlier this month, we posted our first in a series of myth busters, inspired by the Discovery Channel’s television show MythBusters. Over the next several months we’ll tackle hot topics related to Big Data, analytics, customer engagement and mobile technology and we’ll determine whether the topic can be confirmed, is plausible or is busted (not true).  Thomas Davenport and D.J. Patil brought the data scientist into the national spotlight in last October’s Harvard Business Review article titled Data Scientist: The Sexiest Job of the 21st Century, and Indeed.com reported that job postings for analytic scientists have jumped 15,000 percent between the summer of 2011 and 2012. Many believe the “shortage” will only get worse. McKinsey & Company predicted a 50 to 60 percent shortfall in analytic scientists in the US by 2018. And Gartner echoed this sentiment predicting that only one-third of 4.4 million global big data jobs will be filled by 2015. By definition we have a talent crunch on our hands. But will it constrain Big...

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Analytics & Optimization Stuart Wells Keynote at FICO World: Analytic Cloud Debuts


True story – A man sat in a café in Mexico when he got a call from his credit card company. The fraud manager tells the man that they’ve detected something odd with his last card transaction. He says, “I’m eating my breakfast right now; call me back later.” The fraud manager is insistent, and asks that he confirm he still has his card. The man is getting pretty steamed, “Of course I’ve got my card.” The fraud manager asks, “Are you sure?” The guy checks for his card, and his wallet is missing. How does the guy feel about his bank now? In his keynote at FICO World, Stuart Wells described the challenges in the march toward true customer intimacy – not only understanding the customer better, but the ability to act on that understanding faster. Just like the fraud manager proactively reaching out to the customer in real time. According to Wells, most companies still struggle to deploy the analytics they need to compete because it can be expensive, complex, and hard to deploy. The data is locked in siloes. In...

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