FICO (NYSE:FICO), a leading predictive analytics and decision management software company announced that it has been named a “major player” in the new IDC MarketScape Worldwide Decision Management Software Platform 2014 Vendor Assessment (doc #250351, September 2014).
In this MarketScape, IDC evaluated five decision management platforms in this study, defined as software offerings where a software vendor has pre-integrated components for advanced analytics, rules management, and model development and deploys them into a single decision management software platform. Besides being recognised for its strategy, The IDC MarketScape recognised FICO for the flexibility of its decision management tools and platform, and also praised FICO’s sales and distribution strategy, specifically its community and partner network.
“The decision management platform has only emerged in the past few years,” said Brian McDonough, research manager, Business Analytics Solutions, IDC. “We expect rapid innovation in product functionality over the next five years but organisations can feel confident that they can see real and impressive business benefits from any of these solutions today.”
“The IDC MarketScape evaluation validates our fundamental belief in the power and value of decision management software to change the way business is conducted,” said Dr. Stuart Wells, chief product and technology officer at FICO. “Our investment in the FICO Decision Management Platform is bringing decades of innovations in analytics and decision science to businesses in all industries. And by using the cloud to remove the barriers to adoption, we are enabling organisations of all sizes to base their operational decisions on Big Data analytics, rather than subjective experience or mere guesswork.”
IDC MarketScape vendor analysis model is designed to provide an overview of the competitive fitness of Information and Communications Technology (ICT) suppliers in a given market. The research methodology utilises a rigorous scoring methodology based on both qualitative and quantitative criteria that results in a single graphical illustration of each vendor’s position within a given market. The Capabilities score measures vendor product, go-to-market and business execution in the short-term. The Strategy score measures alignment of vendor strategies with customer requirements in a 3-5-year timeframe. Vendor market share is represented by the size of the circles. Vendor year-over-year growth rate relative to the given market is indicated by a plus, neutral or minus next to the vendor name.
The report evaluated the FICO® Decision Management Platform, a full-featured, open standards-based platform that delivers comprehensive decision management with lifecycle management, simple integration and interoperability. The FICO Decision Management Platform enables businesses to build, customise, implement, and scale analytics and decision management solutions. It provides a comprehensive environment that makes it quick and seamless to glean insight from data, and develop analytic models and decision services that operationalise those insights. An excerpt of the IDC MarketScape report is available for download here.