Fair Isaac Corporation. a provider of analytics and decision technology, announced the launch of its Strategy Science Institute, an exclusive forum designed to enable and empower adopters of Fair Isaac's Strategy Science process and methodology to gain the richest business benefits from this new breed of analytics.
Strategy Science improves business performance by expanding the application of analytics beyond predictions to decisions. It is a precise, data-guided methodology that combines advanced decision analytics, state-of-the-art optimization, visualization, simulation and strategy design as well as strategy and domain expertise consulting. The market-proven methodology is currently in use in more than 50 projects at 30 financial institutions throughout the world to optimize business results in acquisition, credit limit programs, customer retention and fraud referrals, and has consistently delivered profit improvement of between five and 35 percent.
Designed for the early adopters of the technology, the forum provided analytically oriented and business-focused managers with insights on how to leverage Strategy Science to simulate changing environments and better understand the risk/reward trade-offs of alternate strategies and their impact on revenue and cost metrics. Attendees networked with Fair Isaac scientists and strategists and learned how to:
- Understand and avoid pitfalls in developing and implementing optimization solutions
- Translate complex business problems into a mathematical framework via Strategy Science suitable for simulation and optimization
- Analyze the risk/reward trade-offs and effects of constraints on strategy simulations
- Gain hands-on experience with advanced tools used in optimization and strategy refinement
- Bridge the gap between the theory of decision analytics and the pragmatic challenges of customer treatment strategies
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