Here is useful advice from FICO concerning analytics application development:
From days to minutes: A payment processor decreased cycle times from days to minutes, lowered cost of operations, achieved a 60% reduction in manual reviews, and reduced fraud losses— all with greater business control.
… all within three months: A large international micro-loan provider re-platformed an entire originations process while simultaneously introducing new models, wholesale new pricing and legislative guidelines—all while targeting a new application demographic—within three months.
… more cash: A massive telecommunications provider added tens of millions in cash flow—while adding the same number of subscribers—and saw faster time to results, thanks to improved, systematic strategy optimization.
What do these three organizations have in common? They all built intelligent analytic applications in a fraction of the time – and cost – that has traditionally been associated with decision management solution development.
On top of the decision rules, models, and algorithms that form the core of their applications, these leaders can access dashboards and reports to track results and try out new treatments as outcomes are analyzed. Consumers can access offers from a variety of devices – web, tablet, mobile – and make choices that satisfy them and address the risk profiles and profit goals of the business.
Source: FICO Analytics Blog
