The science of better decisions.
Value of Optimization
Solving large, complex optimization problems can be the difference between success and failure in today's marketplace.
Optimization is the science of better decisions. It helps businesses create the best possible plans, explore alternatives, understand trade-offs, and respond to changes in business operations. A few examples include:
• What to build, where and when
• Understanding the risk vs. potential reward
• Revenue management and how to price goods
• Inventory costs: how much and from who
How FICO delivers Optimization
The modern field of operational research arose during World War II and was defined as “a scientific method of providing executive departments with a quantitative basis for decisions regarding the operations under their control.” It was used to reduce losses of ships and optimize aircraft colors, among many other things.
Since then, optimization is used in practically every industry from energy to financial services to CPG and manufacturing. FICO® Xpress Optimization has been commercially available for more than 30 years. Our unique solution is a tailored platform that dynamically adapts to changing business models and augments and integrates with existing systems.
Benefits and Components
FICO Xpress Optimization is composed of four components
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