Value of Simulation and Experimentation
Drive better decisions by simulating business outcomes
When it comes to making simple, everyday decisions, our brains will naturally analyze a multitude of scenarios and make rapid tradeoffs. This reflexive thought process — based upon our experiences and the information at hand — is usually enough to quickly guide us to the correct next action: “Here’s what I know, so here’s what I should do.” Unfortunately, most business decisions aren’t that simple. While nearly every mid- to large-sized company has invested in data and analytics, very few are sure of what they know, let alone what they should do.
FICO’s simulation and experimentation solutions provide companies with the ability to reduce decision complexity by enabling business and technical users to run what-if analyses and quickly compare multiple possible scenarios. They help protect and maximize an organization’s current investments in data science and prescriptive analytics by ensuring applications are deployed. And they empower end-users to rapidly deploy business applications. With the right decision technology, it’s possible to convert seemingly intractable business challenges into straightforward choices that drive business outcomes.
How FICO delivers Simulation and Experimentation
FICO Business Outcome Simulator
FICO Business Outcome Simulator enables business leaders to perform and visualize simulations of their analytic or optimization models or business rules, resulting in increased transparency and collaboration between the business user and data scientist to achieve a desired business outcome. Once the model achieves the desired outcome, it can be published as a business application.
Benefits and Components
Simulation and Experimentation Solutions
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