New FICO Xpress Optimization Product Positioning & Naming

Document created by neillcrossley@fico.com on Aug 1, 2017Last modified by neillcrossley@fico.com on Aug 1, 2017
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Following growth in FICO optimization capabilities, user groups and product names over the last few years, it was decided to undertake a review to reassess the product positioning & naming.

The aim was to better reflect the requirements of our key user groups, clarify new and growing capability areas, and simplify communication.

 

The key changes to take effect in August 2017 are as follows:

  • Move from multiple Optimization product names to one lead product name: FICO Xpress Optimization
  • Move to using 2 main Optimization product categories:
    • Technology - Used by Operations Researchers, Data Scientists and Solutions Developers, to develop Optimization Models, Services & Solutions
    • Solutions - Used by Business Users & Business Analysts to Visualize, Collaborate & Decide
  • Many existing "products" become core "technology" components
  • Define the different types of "solutions" that are available from FICO

 

The graphic below provides an overview of the new product naming & positioning:

Xpress overview 2.PNG

Key Product Name Changes:

  • New Lead Product Name: FICO Xpress Optimization
Technology:
  • FICO Optimization Modeler becomes a component called Xpress Insight
  • FICO Optimization Executor becomes a component called Xpress Executor
  • FICO Optimization Designer becomes a component called Xpress Workbench
      • Xpress Mosel, Xpress BCL and support for Python, Matlab & R becomes part of Xpress Workbench
  • Xpress Optimizer becomes a component called Xpress Solver
      • Xpress Tuner, Xpress Non Linear & Xpress Kalis become part of Xpress Solver
Solutions:
  • FICO Decision Optimizer becomes a FICO Xpress Solution
  • This category includes the ever increasing range of standard FICO Xpress Solutions, such as Alternative Deal Structure Optimizer, Price Optimizer for Deposit Pricing, etc.

 

FICO Xpress Solutions - different solution types

FICO Xpress Optimization based software solutions have become an ever increasing part of the FICO Optimization product line. This builds on the 20 year pedigree that FICO has in using optimization solutions to help business users and analysts make better business decisions. It also results from the range of rapid solution development capabilities that have been added to the product over the last few years.

 

Consequently, it became important to define the main types of FICO Xpress Solution and how they differ from each other. This is to help users better understand how their Solution has been built and what elements are available for them to manage, configure, or enhance themselves.

 

The graphic below looks to define the core FICO Xpress Solution types:

Xpress Solution Overview.PNGCustom Solutions
  • Where FICO is developing a solution for a specific business problem for the first time, or where the requirements are so unique that it makes sense to build a brand new solution from scratch
  • Solutions built on completely custom mathematical model developments, built to meet specific a business problem or needs
Template Solutions
  • Where FICO has developed a number of successful solutions fro a known business problem, resulting in a best practice  model template having been defined that supports the majority of the mathematical model, the UI and report features
  • A Template defines best practice starting point for the Solution development on a known business problem
Framework Solutions
  • Where FICO has developed many successful Solutions and has been able to develop a standard framework software solution for a particular type of business problem
  • FICO Decision Optimizer is an example. It uses a configurable optimization framework focused on optimizing the assignment of discrete decisions to different accounts/customers/entities. It allows the user to configure solutions for multiple business problems that fit this framework e.g. Credit Line Increase, Marketing Offers etc.

 

Should you require further clarification on the new product positioning and naming, please don't hesitate to contact us.

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