Model Builder enables clients to quickly define, test and deploy models to production systems including mainframes without recoding by programmers, allowing companies to move from data analysis to effective decision management much faster than with traditional modeling software. Version 3.5 now offers the company's innovative Data Spiders™ technology as an optional module. Data Spiders technology helps businesses extract maximized value from their transaction data to build stronger predictive models and make more precise decisions across their enterprise applications.
The Data Spiders module is designed to help analysts overcome the traditionally tedious and manual processes in the data preparation phase of data mining. Leveraging Fair Isaac's genetic algorithms techniques, which mimic evolution via a 'survival of the fittest' process, Data Spiders technology searches vast databases of raw transaction data, generates vast numbers of characteristics and tests them to find the most subtle and powerful predictive information.
"Model Builder 3.5 with Data Spiders technology can help companies in almost any application, across industries, where better understanding of ongoing customer actions can improve business productivity and growth," said Carole-Ann Matignon, vice president of product management, Enterprise Decision Management Technologies at Fair Isaac. "Using an approach that is superior to traditional techniques of uncovering predictive value in transaction data, our enhanced Model Builder platform enables immediate access to critical data where it resides. As a result, organizations can rapidly deploy actionable insights into stronger predictive models that drive more acute decisions across multiple business areas."
For example, Data Spiders technology can be used to search clickstream data for predictive patterns that help detect and prevent fraud; retail sales records to develop models that help improve offer strategies; or call detail records for churn prevention. Model Builder utilizes the most successful characteristics to increase model effectiveness and deploys them into a decision environment for improved business performance.
"The additional capabilities of Model Builder 3.5 allow customers to bring Fair Isaac's strength in predictive analytics to bear on a wide range of new problems from customer retention and acquisition, cross-sell and up-sell, while building on our leadership position in credit and fraud analytics," said James Taylor, vice president, Enterprise Decision Management Technologies at Fair Isaac. "The integration of Model Builder with our other Enterprise Decision Management tools and solutions means that Fair Isaac's rich stream of analytic research and development can be brought to bear on the widest possible set of problems."
The release of Model Builder 3.5 also includes updates to the industry-leading Scorecard capabilities and to the recently introduced Segmentation ART™ (Adaptive Random Trees) module that improves the quality of predictions by automatically recognizing segments of the data population that can benefit from specialized models. Using Fair Isaac's genetic algorithms approach, the ART technology automatically optimizes and evolves the segmentations toward better solutions, thereby eliminating the need to create and evaluate segmentation trees manually.
Additionally, Model Builder 3.5 offers ease-of-use through its ability to read and write relational database tables and SAS datasets, and enhanced export capabilities of its predictive models to Predictive Model Markup Language (PMML). PMML is the most widely deployed data mining standard for describing statistical transformations and predictive models, and allows for the swift and flexible deployment of models into production systems.
Model Builder 3.5 is a core component of Fair Isaac's Enterprise Decision Management (EDM) suite of integrated software tools. Predictive models can be directly deployed within Fair Isaac's Blaze Advisor™ business rules flows. The latest release also will enhance the performance of Fair Isaac's industry-leading EDM applications, including TRIAD™ adaptive control system and Falcon™ Fraud Manager. Model Builder 3.5 and the Data Spiders module will be available later this fall.
About Fair Isaac
Fair Isaac Corporation (NYSE:FIC) makes decisions smarter. The company's solutions and technologies for Enterprise Decision Management give businesses the power to automate more processes, and apply more intelligence to every customer interaction. Through increasing the precision, consistency and agility of their decisions, Fair Isaac clients worldwide increase sales, build customer value, cut fraud losses, manage credit risk, reduce operational costs, meet changing compliance demands and enter new markets more profitably. Founded in 1956, Fair Isaac powers hundreds of billions of decisions per year in financial services, insurance, telecommunications, retail, consumer branded goods, healthcare and the public sector. Fair Isaac also helps millions of individuals manage their credit health through the www.myfico.com website.
Statement Concerning Forward-Looking Information
Except for historical information contained herein, the statements contained in this press release that relate to Fair Isaac, including statements regarding its Fair Isaac Model Builder 3.5 and Data Spiders product offerings and the benefits to be derived from these product offerings, are forward-looking statements within the meaning of the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including any unforeseen technical difficulties related to the implementation, use and functionality of the offerings, the risks that customers will not perceive material benefits from the offerings, failure of the products to deliver the expected results, the possibility of errors or defects in the offerings, regulatory changes applicable to the use of consumer credit and other data, and other risks described from time to time in Fair Isaac's SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2005, and its quarterly report on Form 10-Q for the period ended June 30, 2006. Forward-looking statements should be considered with caution. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, Fair Isaac's results could differ materially from Fair Isaac's expectations in these statements. Fair Isaac disclaims any intent or obligation to update these forward-looking statements.
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