MINNEAPOLIS—November 4, 2010—FICO (NYSE:FICO), the leading provider of analytics and decision management technology, today announced the availability of version 7.1 of its FICO™ Xpress Optimization Suite. Xpress 7.1 enables operations research professionals, analysts and consultants to use advanced mathematical models to find the optimal solutions to a wide range of industry challenges with unprecedented speed. Organizations can now develop and deploy optimization models faster and solve much larger problems than previously possible.
FICO™ Xpress 7.1 brings to the market a unique ability to support ultra-large-scale optimization. New extensions to the Xpress-Mosel modeling language enable users to quickly solve huge optimization problems by decomposing their models into multiple sub-models, and distributing execution of these models across multiple computers. The addition of true 64-bit support enables users to address problems that exceed the 2 billion coefficient limitation, breaking through the limits imposed by other products,.
“We’ve been using FICO Xpress for about six years, and we are excited about the release of 7.1,” said Rusty Burlingame, Southwest Airlines Manager of Optimization Solutions. “In testing, the new version has allowed us more flexibility and faster solving times when dealing with the complexity of crew scheduling. The FICO team really stepped up their game with 7.1, and we’re now able to solve larger, more complicated problems in record time.”
FICO™ Xpress 7.1 has dramatically improved performance of the core linear programming and mixed integer programming solvers. In addition, the nonlinear solvers have also been taken to the next level of performance. Xpress 7.1 makes it even easier for companies to add optimization to their applications, using simplified and full-featured interfaces. Developers will also enjoy greater productivity from numerous usability enhancements.
“In today’s economy, every major enterprise is trying to achieve optimal efficiency and ROI from its resources,” said David Lightfoot, FICO vice president of product management. “FICO Xpress Optimization Suite 7.1 delivers a clear advantage by maximizing productivity in creating, testing and deploying optimization models, and by adding new ultra-large-scale capabilities to address the toughest problems. This important release demonstrates FICO’s continued commitment to leadership in optimization.”
FICO™ Xpress 7.1 is part of FICO’s analytic portfolio, which enables businesses to integrate business rules, predictive model development and decision optimization. The integration of these tools dramatically reduces the time and cost needed to deploy predictive models and optimized strategies.
Simultaneously, FICO announced the re-launch of its no-cost, unrestricted Academic Partner Program. Under this program, educational institutions can use the FICO Xpress Optimization Suite for teaching and research, free of charge. In addition, anyone wanting to try out FICO™ Xpress Optimization Suite 7.1 can download an evaluation version.
FICO (NYSE:FICO) transforms business by making every decision count. FICO’s Decision Management solutions combine trusted advice, world-class analytics and innovative applications to give organizations the power to automate, improve and connect decisions across their business. Clients in 80 countries work with FICO to increase customer loyalty and profitability, cut fraud losses, manage credit risk, meet regulatory and competitive demands, and rapidly build market share. FICO 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 news release that relate to FICO or its business 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 the success of the Company’s Decision Management strategy and reengineering initiative, the maintenance of its existing relationships and ability to create new relationships with customers and key alliance partners, its ability to continue to develop new and enhanced products and services, its ability to recruit and retain key technical and managerial personnel, competition, regulatory changes applicable to the use of consumer credit and other data, the failure to realize the anticipated benefits of any acquisitions, continuing material adverse developments in global economic conditions, and other risks described from time to time in FICO’s SEC reports, including its Annual Report on Form 10-K for the year ended September 30, 2009 and its last quarterly report on Form 10-Q for the period ended June 30, 2010. If any of these risks or uncertainties materializes, FICO’s results could differ materially from its expectations. FICO disclaims any intent or obligation to update these forward-looking statements.
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