Industry Today recently asked me to contribute an article about getting the maximum value out of analytics. And, in my experience, the biggest hurdle to maximizing the use of data to create greater business value is being able to operationalize analytics throughout an organization. This means creating a collaborative, scalable, transparent process for getting advanced analytics out of the lab and into the everyday business, this is the only way to truly operationalize and get maximum business value from analytic investments.
I wanted to follow the article up with a specific example of something we offer at FICO, and that’s Xpress Insight. Xpress Insight is a decision support application that enables data scientists to rapidly deploy any advanced analytic or optimization model as a business application.
Across industries, data scientists create powerful models to solve complex business problems. But, as we know all too well, many data science projects are never fully deployed. It’s a huge waste of time and resources when the models don’t reach the intended business users. The real value of highly complex analytic models comes when they’re in the hands of the business users and become an integral part of their work day.
FICO Xpress Insight enables collaboration between the data science team and the line of business users by taking highly complex analytic or optimization models and turning them into point-and-click applications that help them make business decisions.
Originally we built Xpress Insight to enable optimization applications, now it supports any advanced analytic model, including Python, SPSS and R. For data scientists trying to create decision support solutions, they can use Xpress Insight while also leveraging their existing investment in other analytic models and tools.
Companies are sitting on mountains of relevant and useful data to help inform their business processes and decisions. They need tools like Xpress Insight to unlock the value of that data and place analytics in the hands of business stakeholder in an easy to use and explainable framework that empowers the operation.
To check out Xpress Insight go to the FICO Community.