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February 18, 2015updated 19 Aug 2016 4:00pm

FICO taking on IoT Big Data challenge

FICO's Big Data Analyser and Data Management Platform come as part of the Decision Management Suite.

By James Nunns

FICO has announced the release of the FICO Data Management Integration Platform which offers analytics streaming and real-time distributed processing.

The company has also announced the availability of a Big Data Analyser, which is designed to allow collaborative exploration of data on Hadoop.

The Data Management Integration Platform is designed to provide a solution to deliver quick and actionable insights to new applications that need to respond to real time data in order to anticipate what will happen in the future.

The platform collects, filters and aggregates batch and streaming data from hundreds of sources, which it then analyses on the fly. This can provide applications with greater agility and responsiveness to deliver important decisions.

Stuart Wells, chief technology officer at FICO, said: "The decision value of data is short-lived, and the sheer volume, velocity and variety of Big Data make it extremely challenging to find the right data for your decisions, let alone act on that data while the decision is still relevant."

"FICO Decision Management Integration Platform enables businesses to harness the power of Big Data and the emerging Internet of Things by turning massive, complex data streams into clear insights – and ultimately actions – in real time."

FICO’s Big Data Analyser is designed to work in conjunction with FICO Analytic Modeler and the FICO Decision Management Platform. The analyser will allow for the exploration of advanced analytics and operational implementation which is built on technology that was acquired from Karmasphere last year.

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Brian McDonough, research manager for Business Analytics Solutions at IDC, said: "The Internet of Things is at the heart of our view of the ‘third platform’ of technology and the four pillars — mobility, social business, Big Data/analytics, and cloud — resulting in millions of applications available to billions of end points."

"The Internet of things has already started to produce a huge mass of data, but there is no value in that data until data-processing technology and analytics are ready to take on the challenge in real-time."

The Big Data Analyser is designed to equip businesses, users, analysts and data scientists with access to data and analytics. Dan Vesset, program vice president of Business Analytics and Big Data at IDC, said: "In our research last year, we found that 32 percent of enterprises have actually deployed Hadoop, with another 36 percent planning to do so in the next 12 months."

"These are impressive figures, but they’re modest compared to what’s actually needed to take full advantage of Big Data. The primary obstacle is Hadoop programming talent. If technology could solve this problem, it would mean that CIOs could help drive more pervasive adoption of Big Data analytics solutions into the hands of all relevant analysts and decision makers – not just a few data scientists."

The Data Management Integration Platform and the Big Data Analyser are currently available as part of the FICO Decision Management Suite.

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