FICO Partners with TCS to Deliver Advanced Optimization and Decision Management Solutions
IT News Online Staff
2024-10-25
Analytics software provider FICO has partnered with Tata Consultancy Services (TCS) to bring advanced optimization and decision management solutions to businesses in a range of industries worldwide.
TCS will use FICO Platform, a low-code/no-code solution for analytics-powered decision automation and mathematical optimization, to create industry-specific solutions powered by real-time, fully interpretable analytics, machine learning and cutting-edge AI models. Both firms will support these offerings with expert professional services. TCS was recently recognized with the Global System Integrator Award from FICO.
One of the initial areas of focus is "truck roll" optimization, using FICO's optimization technology to improve the efficiency of dispatching service vehicles for customer support. This solution can significantly reduce costs, improve response times and lower carbon emissions. A case in point is Traxión of Mexico, a FICO Decisions Award winner, which decreased empty trips by 40 percent, saved $5 million annually and cut emissions, while minimizing fleet wear and tear.
Additionally, TCS and FICO are developing solutions for the telecommunications, media and other sectors, starting with a solution aimed at reducing churn, increasing revenue and optimizing cost for service providers. TCS will showcase FICO technology at the TCS Pace Port co-innovation and research centers.
TCS and FICO will also address the increasing financial and operational risks businesses face due to climate change. Escalating extreme weather events, such as wildfires in the U.S., record heatwaves in Europe and floods in Japan, have highlighted the vulnerability of businesses and consumers. In response, TCS and FICO are creating predictive risk modeling and decision analytics to help insurers and their clients mitigate the rising costs and losses associated with climate-related natural disasters.
"We see immense potential in the TCS FICO partnership, helping businesses manage customers better, and strengthen and operationalize AI/ML. We will make it easier for business users at every level to apply innovations in decision science to their day-to-day operations by using the best-in-class set of analytics and decisioning offerings," said Akhilesh Tiwari, president, Communications, Media and Information Services (CMI) Business Group, TCS.
"Companies are now data-driven, but the next evolution is to be decision-driven," said Alexandre Graff, vice president of partnerships, FICO. "TCS brings deep industry expertise and unparalleled solution delivery. Together, we'll help businesses in diverse industries harness the power of advanced analytics and decision technology solve critical challenges, from fleet management to supply chain optimization."
FICO optimization technology enables businesses to evaluate millions of potential scenarios and identify the ideal strategy. With high-performance solvers, flexible modeling environments and comparative scenario analysis, it's a comprehensive solution for both on-premises and cloud deployments. FICO decisioning technology automates decisions using data-driven insights, business rules, event-driven triggers and a learning loop, empowering businesses to make smarter, faster decisions.
|
|
