Download this case study to learn how the Collections Treatment Optimization program powered by FICO® Xpress Optimization Suite and FICO® Model Builder helped more than 6,000 customers avoid repossession and stay in their cars, and prevented 50,000 customers from reaching a stage of delinquency that would affect their credit. The program also helped grow the lending portfolio by 9% without adding collections headcount.
Behind FICO® Collections Optimisation is a sophisticated decision modeling capability that quanti es the impact of an organisation’s business decisions and actions on customer outcomes such as revenue, loss and profit.
Leading businesses have aggressively adopted prescriptive analytics to assess the different outcomes of potential decisions and identify the best one(s) for handling a future scenario. As companies progress their use of advanced analytics, they derive exponentially more value from their data and decisions. These five case studies highlight how five banks are using FICO optimization to boost portfolio profits by 26% or more; increase approved transactions by $100+ million; and even generate 6:1 ROI in just six months.
FICO® Optimization Solutions for Manufacturers is an integrated and flexible modeling, solving and rapid application development platform for building solutions across the entire lifecycle of manufacturing and supply chain business challenges. It helps businesses readily account for massive amounts of data as well the myriad constraints and conflicting objectives within your business. This easy-to-modify solution incorporates strong and proven optimization engines, flexible workflow and usability at every level to drive consistent, transparent and profitable decisions, which ultimately drive the best action(s) for your business.
Historically, manufacturers have “looked to the past” to help predict what they need to do in the future. This would include basic business intelligence, powered by spreadsheets, and even manual processes. The challenge is that what will happen may be something outside of what the past can predicts – who, 25 years ago, would have considered the Internet as a primary vehicle for commerce, or that Big Data would become both a treasure and a tragedy for organizations? Consider other factors, such as regulations, largely transient customers (where loyalty and brand aren’t what they used to be), disruptors (such as new entrants and technologies), and the need for manufacturers to “move faster than ever” – in effect, to be able to plan for the future before it happens.
In an era where Big Data decisions demand high-powered tools, organizations everywhere are still mired in complex spreadsheets that limit the speed and precision of their critical customer interactions.
Read this fact sheet to learn how you can evolve beyond what spreadsheets alone can achieve:
• Allow business users to easily create and compare “what if” scenarios, interact with compelling visualizations, and challenge, improve and build trust with stakeholders and collaborators
• Rapidly deploy new optimization features and applications practically at the speed of thought – without leaning on IT – while leveraging existing investments in other analytic tools (such as R, SAS, MATLAB, and even Excel)
Many organizations consider optimization only for their largest or most challenging business problems, often utilizing a small number of Operations Research professionals. But in our age of Big Data, market globalization and increased competition, many organizations are successfully making the case that optimization can be applied to a wider variety of business and operational decisions, and be developed by a new group of users — the organization’s business analysts.
With a proven track record of results demonstrating that organizations can increase profitability with business analysts applying optimization to many types of business problems, FICO’s proven development methodology is giving organizations the confidence to extend optimization practices across their enterprises.
FICO commissioned this research report with IndustryWeek to explore and understand how more than 400 manufacturing senior executive and managers are using supply chain optimization (SCO) in their businesses.
In a rapidly advancing and changing market, retailers need to be prepared for the unexpected, from the impacts of new payment options, to the challenges of new entrants and innovations, increasingly complex global supply chains and digitally empowered customers looking to direct their own shopping experience.
While many retailers continue to keep in-store and on-line interactions separate, the leading retailers understand that all channels must be seamlessly integrated to help ensure success — including optimizing logistics for a smarter shopping experience, managing or sourcing on-line inventory to respond to consumer demand, striking the right balance between customer satisfaction and maximising return, and space optimization in the store itself.
Read this brief to learn how FICO is helping retailers and grocers to use optimization to increase decision accuracy by 5%-40%, while deploying optimization applications up to 80% faster than possible – collectively, providing businesses with the ability to drive more revenue and customer connectivity while reducing costs.
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