FICO Blaze Advisor: the compass of your business decisions

Among many enterprise software companies, FICO rightfully deserves a leading position in the financial software market. Its products have won popularity and trust among customers due to their reliability and innovative spirit. It comes as no surprise that more than half of the world’s largest banks, and about 90% of the largest American banks, choose FICO software solutions.

Contributed to our Blog byVP, Business developmentSergei Artimenia


Financial software: digital filter of the datastream

We live in an era of electronic commerce. Millions of transactions take place every day. Financial institutions and banks have to deal with large volumes of data from various sources. Big Data technology became an effective solution for data analysis, building predictive analytic strategies, and improving decision making process automation by selecting key information from the dataflow. 

FICO Blaze Advisor is a business rules management platform that does all the hard work. Moreover, the solution can be used either as is, or be integrated into other FICO’s products like the Debt Manager, Origination Manager, Decision Management Suite, Decision Modeler, etc. FICO Blaze Advisor is compatible with other external software as well.


FICO Blaze Advisor: decision rules management system that leads to success

The success of FICO Blaze Advisor in the field of business decision making has its foundation on several key features:

  • Automation. Companies can automate high-volume operational decisions quickly and effectively while keeping control over the decision-making process.
  • Safety & Security. Decision logic can be maintained by business analysts safely and securely, not depending on technical resources. This reduces application modification time and speeds up the company’s response to business conditions changes. 
  • Architecture. Decision logic is separated from application control logic. The business decision logic module can be maintained independently of the application code. It can be updated in real-time without stopping or restarting the platform. Business analysts can easily review and understand logic rules. 
  • Shared logic. Decision logic can be shared across applications providing consistent behavior throughout the enterprise. This feature is very useful for companies that support multi-channel services through web, call-centers, or mobile excess. 
  • Decision rules. They can be viewed, represented and maintained in different formats, such as decision tables, trees, scoreboards, graphs, and customized templates. All these formats help to display decision rules in the most practical and natural way to provide a better understanding of their purposes and interrelations. Even in the multi-step decision-making process. The simplicity of the platform allows for the training of a team of specialists by means of simple FICO Blaze Advisor tutorials
  • Management. FICO Blaze Advisor provides an excellent platform for a coherent approach to operational decision improvement and automation. The effect of new rules can be estimated before they start working. The feature prevents costly errors in strategies and lets potential users compare different approaches. 
  • Collaboration. Business analysts can collaborate and gain visibility of the authorization process for business rules using lifecycle management. 
  • Value. Personalization of services, dialogs, and content, based on user profile data and process characteristics, adds value to business processes thus gaining the company additional profit. 
  • Data access. Automated decisions, made by companies, can be based on data from various sources including multiple databases, XML-documents, Java objects, etc.
  • Transparency. FICO Blaze Advisor allows companies to track down how and why certain decisions were made to demonstrate regulatory compliance.


FICO Blaze Advisor: a big spoon of honey in a honey barrel

Watch the video below to understand how FICO Blaze Advisor can automate the decision-making process, saving you money and time, and reducing underwriting risk. 

How FICO Blaze Advisor sped up and improved the quality of work at Unitrin Kemper Auto & Home from FICO’s YouTube channel

Lots of professionals choose the application to optimize the business decision-making process. FICO Blaze Advisor reviews on Gartner clearly demonstrate the product’s high quality and efficiency. The product has 5 verified reviews with an average rating of 4.5 points out of 5.


FICO Blaze Advisor architecture, or The house that Jack built

As a complex enterprise software solution, FICO Blaze Advisor consists of several interconnected components:

  • Blaze Advisor rule server;
  • Rule repositories;
  • Integrated development environment (IDE);
  • Rule maintenance application (RMA).

Rule projects are stored on the Blaze Advisor rule server. It gives real-time access opportunities to initiate and execute preloaded scenarios. It also supports multi-user access integration into different databases. Business rules from IDE are immediately transmitted here for further execution. 

Ready-made business rules are stored in Rule repositories in the form of XML files, which users can edit in real-time. 

Integrated development environment (IDE) is a graphical environment that gives IT-specialists the opportunity to create, edit and test business rules used in business processes. Technically, it includes within itself a set of tools for rule projects development, testing, and debugging. Business rules are developed on the basis of decision charts and decision trees. IDE provides the opportunity to integrate external business rule scenarios into the system as well. Web-based enterprise software applications can also be developed with IDE tools.

Fig. 1. Decision tree profiling

Rule maintenance application (RMA) is a web-application with a user-friendly interface that displays a business rule in an editable format, so that users and business-experts, who are not IT-specialists, can change rules intuitively. RMA contains one or several preloaded patterns for simplification of same-type rules creation. Users can view, refresh and edit the rules via a web-interface or Microsoft Excel. 

Fig. 2. Rule maintenance center

FICO Blaze Advisor architecture is simple. But this simplicity does not affect its security, efficiency, flexibility, or the scalability of the program. 

The following screenshots show details of the FICO Blaze advisor interface. 


Conclusion

Our life – private and business – is full of decisions. Making the right ones is a difficult task. Too many circumstances and conditions should be taken into consideration. 

Business decisions are a much tougher call. A smart assistant is needed to analyze and filter data-flows to prompt the correct choice. 

FICO Blaze Advisor does this work for you. With it, the decision-making process becomes easy, fast, and effective.

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