STATISTICA Decisioning Platform(TM) Integrates Predictive Analytics into Organizations’ Business Processes and Decision-making

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StatSoft introduces a new decision support technology for Banking, Insurance and Manufacturing.

STATISTICA Decisioning Platform example

StatSoft announces the STATISTICA Decisioning Platform™ - a new decision support technology that provides a new, enhanced platform for StatSoft decision support solutions for Banking, Insurance, and Manufacturing. It is an extension of the STATISTICA Enterprise analytics software platform, that integrates predictive analytics, text mining, and a rules engine to deliver recommendations, results, and guidance to front-line workers and decision-makers within the respective departments and business units of an organization.

The proactive and on-demand recommendations achieve improved performance, product quality, customer satisfaction, market share, and other organizational objectives. The STATISTICA Decisioning Platform™ includes user personalization, a “workbench” for predictive analytics & text mining for quantitative analysts, management and versioning of predictive models, and a Decision Rules Builder™ for composing, testing and deploying decision rules, and high performance STATISTICA Enterprise server software for off-loading predictive model-building and scoring.

Predictive modeling is omnipresent across all aspects of commercial and government organizations, including the marketing, sales, manufacturing, and service functions. The rapid growth of data from various sources describing in detail critical aspects of the environment in which an organization operates and processes that make an organization successful have elevated predictive modeling to become a critical business activity. The STATISTICA Decisioning Platform™ guides decision making throughout an organization by “pushing out” recommendations and integrating them directly in core line of business systems, relevant insights delivered in a timely fashion to the people who need them in a format that allows them to act upon those insights.

The STATISTICA Decisioning Platform™ provides business analysts with a flexible Decision Rules Builder™ for defining and reviewing business rules. The Decision Rules Builder packages a powerful set of logical primitives for defining the business rules. These “Rules” become reusable templates in a workflow workspace that are stored and managed under access control permissions and versioning/history in the STATISTICA system so that questions such as “Why was this rule changed?”, “Who changed it?”, and “What were the applicable rules in place on January 1, 2011?” are all possible to answer (and also to meet regulatory requirements). These Rules nodes can be re-used and applied across different processes, product lines, etc., when that is relevant. STATISTICA Decision Rules Builder also contains powerful tools to accelerate the sometimes challenging work of debugging and validating rules, by enabling business analysts to simulate scenarios to check and confirm, for example, that their rules definitions match their organization’s business requirements.

The leading-edge capabilities of the STATISTICA Decisioning Platform™ provide organizations with a wide variety business benefits. For example, the ability to:
•Financial Services:
Reject fewer credit applications and reduce default rates
Increase profit with high risk products like consumer sales financing on a mobile platform at the point of sale

•Insurance:
Manage both subrogation and fraud propensity within a single workflow
Estimate claim complexity and reserve requirements based on capturing a few key variables

StatSoft, Inc., founded in 1984, is one of the largest global providers of analytic solutions with offices in 30 countries worldwide. StatSoft’s flagship product, STATISTICA, is the enterprise predictive analytics platform for deploying analytic applications across departments, sites, and organizations.

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Roxanne Cook
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