It seems that FICO has done rather well in Forrester’s evaluation of Predictive Analytics and Machine Learning Solutions, and deservedly so in my opinion. While there are many new kids on the block in this domain, FICO actually has the tools, methods and experience to make the whole thing work – so it’s more than a platform really. The breadth of the technology available from FICO is also impressive, including a machine learning as a service platform (FICO Analytic Cloud), prescriptive analytics technology (optimization specifically), and a suite of tools and utilities that complete the analytics lifecycle.
What has hampered FICO in the past is simply the scope and complexity of the product offerings, and a terminology that wasn’t always in sync with market trends. Clearly the company has addressed these issues, and is getting some of the attention it deserves. The press release is below:
- New Forrester Wave™ shows, “enterprises that can make probabilistic predictions about customers, business processes, and operations will have an edge over enterprises that can’t.”
- Wave highlights “hot” Predictive Analytics and Machine Learning Solutions market, forecasting “a 15% compound annual growth rate (CAGR) for the PAML market through 2021.”
- FICO selected as a leader and is cited for its “extensive real-world experience” and its delivery of the “end-to-end-capabilities needed to create, deploy and monitor models for use in complex, consequential enterprise decisions.”
Silicon Valley analytics software firm FICO (NYSE: FICO) was named as a leader in the March 2017 report, The Forrester Wave™: Predictive Analytics and Machine Learning Solutions, Q1 2017. The report explains, “FICO’s Decision Management Suite encompasses the end-to-end capabilities needed to create, deploy and monitor models for use in complex, consequential enterprise decisions.”
Forrester also noted, FICO’s “software division is strong, with an impressive customer base across multiple industries.”
“We believe our position in the Forrester Wave is a great achievement and a testament to the strength of our products and savvy customers,” said Bill Waid, vice president and general manager, FICO Decision Management Solutions. “Our team is passionately committed to delivering the best in predictive and prescriptive analytics that our customers need to drive digital transformation and gain competitive advantage.”
Download a free, full copy of the Forrester Wave: Predictive Analytics and Machine Learning Solutions.
FICO (NYSE: FICO) powers decisions that help people and businesses around the world prosper. Founded in 1956 and based in Silicon Valley, the company is a pioneer in the use of predictive analytics and data science to improve operational decisions. FICO holds more than 170 US and foreign patents on technologies that increase profitability, customer satisfaction and growth for businesses in financial services, telecommunications, health care, retail and many other industries. Using FICO solutions, businesses in more than 100 countries do everything from protecting 2.6 billion payment cards from fraud, to helping people get credit, to ensuring that millions of airplanes and rental cars are in the right place at the right time.