Global analytics software company FICO has announced its recognition as a Leader in the IDC MarketScape: Worldwide Decision Intelligence Platform Vendor Assessment 2024 (doc #US51047423, August 2024).
The FICO® Platform aims to transform digital business operations globally by providing an integrated, end-to-end solution that empowers organizations to achieve critical strategic outcomes throughout the customer lifecycle. This approach fosters collaboration and innovation while dismantling operational silos.
According to the IDC MarketScape report, decision intelligence is defined as “a discipline and technology that helps organizations design, project, and orchestrate decisions by fully or partially automating all stages of the decision-making process.” The report highlights that the FICO Platform, launched in 2017 by integrating multiple decision-making solutions, has experienced rapid growth and now represents a significant portion of FICO’s offerings alongside its credit monitoring services.
Key strengths of the FICO Platform identified in the report include:
- Strong Brand Equity: Particularly in regulated industries, thanks to FICO’s established legacy, along with scalability across various regions and deployment options.
- Data Integration Capabilities: Scalable integration with internal and over 100 external data sources, supported by positive customer feedback regarding support and machine learning functionalities.
- Flexibility in Decision Models: The platform allows users to either utilize FICO’s proprietary models or incorporate their own.
“We believe FICO’s position as a Leader in the IDC MarketScape report reflects our commitment to innovative technology that facilitates transparent, real-time decision-making at scale,” stated Nikhil Behl, Executive Vice President of Software at FICO. “The FICO Platform enables organizations to build deeper, more meaningful relationships with their customers. Its ability to seamlessly integrate data, provide flexibility in decision models, and deliver robust AI capabilities empowers organizations to achieve strategic outcomes in an increasingly competitive landscape.”
For more insights, download an excerpt of the report here.
For additional information about the FICO Platform, please visit: FICO Platform.
About IDC MarketScape
The IDC MarketScape vendor analysis model provides an overview of the competitive positioning of technology and services providers in a specific market. It employs a rigorous rating system based on both qualitative and quantitative criteria, producing a single graphical representation of each vendor’s position. This framework allows for a comprehensive comparison of vendors’ current and future offerings, capabilities, strategies, and business success factors.
About FICO
FICO (NYSE: FICO) is dedicated to empowering decisions that help individuals and businesses thrive worldwide. Established in 1956, the company pioneered predictive analytics and data science to enhance operational decisions. With over 200 U.S. and international patents, FICO develops technologies that boost profitability, customer satisfaction, and growth across various sectors, including financial services, insurance, telecommunications, healthcare, and retail. FICO solutions are employed by businesses in more than 100 countries, from protecting 4 billion payment cards from fraud to fostering financial inclusion and strengthening supply chain resilience. Moreover, the FICO® Score is utilized by 90% of the top lenders in the United States and serves as the standard measure of consumer credit risk, available in over 40 countries to enhance risk management and access to credit.