FICO Launches New "Optimizing Success" Program for Users of Optimization Packages

Rhea-AI Summary

FICO announces its new 90-day software migration offer, the "Optimizing Success" program, aimed at helping organizations upgrade to the latest FICO® Xpress Optimization products. Despite the projected $274.3 billion spending on Big Data projects, 85% of these initiatives fail due to challenges in deployment. This program allows users of competing products (like IBM's ILOG CPLEX) to migrate smoothly with benefits such as free model benchmarking, proof-of-concept applications, and community membership. FICO continues to lead in analytics and optimization.

Positive

• Launch of the 'Optimizing Success' program to facilitate 90-day software migration for users of competing optimization products.
• Offers free model benchmarking and a proof-of-concept application to new users, enhancing customer onboarding.
• Access to the FICO Optimization Community, including training resources, fostering user engagement and skill development.

Negative

• None.

SAN JOSE, Calif., March 15, 2021 /PRNewswire/ -- Highlights:

• Companies worldwide are expected to spend billions of dollars on Big Data projects, yet as many as 85 percent are likely to fail.

• New FICO 90-day software migration offer, called the "Optimizing Success" program, gives users the ability to upgrade to the latest version of FICO^® Xpress Optimization products, no matter what vendor they use today.

One of the biggest challenges in the business and operations world is the failure of companies to deploy advanced analytics projects in a meaningful and impactful way. According to IDC, companies worldwide are expected to spend $274.3 billion on Big Data projects in 2022, but experts agree that as many as 85 percent of analytics projects – which could create vast efficiencies and deliver millions of dollars in savings – fail to reach deployment.

The major reason this problem persists is due to organizational and technological disconnects between model builders (i.e., data scientists, operations researchers) and business users within large enterprises. To solve this problem, FICO^® Xpress Insight helps foster collaboration between the data scientist and the line of business user by taking highly complex analytic or optimization models and turning them into simple point-and-click applications that help them make real business decisions.

FICO today announced a new 90-day software migration offer called the "Optimizing Success" program, which gives users of niche products – such as IBM's ILOG^® CPLEX^® Optimization Studio, Gurobi^® Optimizer, and SAS Optimization – the ability to upgrade to the latest version of FICO^® Xpress Optimization products.  When users switch to FICO Xpress Optimization, they receive:

• Free model benchmarking, to compare their current model performance with Xpress 8.11
• One free Xpress Insight-based proof-of-concept application, to enable business users to run models as a web application
• A discount on start-up professional services, such as model conversion
• Free membership in the FICO Optimization Community, which includes free access to online training tutorials, and discounts on customized training courses if needed

Xpress Insight allows model developers to rapidly deploy their solutions in a scalable and secure web-based environment. Business users can run scenarios and compare results driving decision-making closer to the point of business impact. Organizations can also get a jump start on applications using FICO solution frameworks such as FICO^® Supply Chain Solver, FICO^® Vehicle Routing Planner and FICO^® Forecaster. Xpress Insight brings the power of optimization and predictive analytics to a broader range of business users, giving them the self-sufficiency to solve problems while enabling analytics teams to deploy models faster for business impact within their organizations.

Xpress Optimization is the solution of choice for forward-thinking leaders in banking, insurance, government, healthcare, energy, travel, transportation, e-commerce, consumer package goods, pharmaceuticals, manufacturing, logistics, and many more industry segments in which decision management and optimization are crucial competitive differentiators. More than 300 academic institutions use FICO Xpress Optimization in their OR, Analytics, and MBA programs, making it a popular choice among the next generation of business leaders.

"FICO has been a leader in investing in and empowering data scientists with robust analytics and optimization tools for nearly 40 years," said Nikhil Behl, chief marketing officer at FICO.  "Because of our deep analytical experience across the enterprise, we are uniquely able to help companies successfully deploy advanced solutions across their worldwide operations."

About FICO^® Xpress Optimization
FICO^® Xpress Optimization is part of the FICO® Platform, a decisioning foundation critical for enterprises' digital transformation. The platform is designed to eliminate data siloes and enable interoperability between enterprise applications. By connecting data-derived insights from disparate business units, enterprises can respond quickly to customers' immediate needs and anticipate their future demands, resulting in deeper, more engaging customer experiences.

Users who wish test-drive Xpress Optimization at no charge are encouraged to join more than 30,000 who've downloaded FICO's free Xpress Community License.

About FICO
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 195 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 120 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.

Join the conversation at https://twitter.com/fico & http://www.fico.com/en/blogs/.

For FICO news and media resources, visit www.fico.com/news.

FICO is a registered trademark of Fair Isaac Corporation in the United States and in other countries.

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SOURCE FICO

FAQ

What is the FICO Optimizing Success program?

The FICO Optimizing Success program is a 90-day software migration offer designed to help users of competing optimization products upgrade to the latest FICO® Xpress Optimization products.

How much do companies expect to spend on Big Data projects in 2022?

Companies worldwide are projected to spend approximately $274.3 billion on Big Data projects in 2022.

What percentage of Big Data projects are likely to fail?

As many as 85% of Big Data projects are expected to fail due to various challenges in deployment.

How does FICO Xpress Insight benefit businesses?

FICO Xpress Insight helps businesses deploy complex analytic models into simple applications, facilitating better decision-making for users.

What benefits do users receive when switching to FICO Xpress Optimization?

Users receive free model benchmarking, a proof-of-concept application, discounts on services, and membership in the FICO Optimization Community.