STATISTICA Decisioning Platform(TM) Integrates Predictive Analytics into Organizations’ Business Processes and Decision Making
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, which 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 and text mining for quantitative analysts, management and versioning of predictive models, a 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 empowers them to act upon those insights.
The STATISTICA Decisioning Platform™ provides business analysts with a flexible Rules Builder™ for defining and reviewing business rules. The 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 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 of business benefits. For example, the ability to:
• Financial Services:
- Reject fewer credit applications and reduce default rates
- Increase profit with high-risk products such as consumer sales financing on a mobile platform at the point of sale
- 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.
Data Mining is the differentiator. Some have labelled the current period, appropriately, as
“The Age of Analytics,” a period in which the information age has led us to the application of
analytics to derive insights from these incredible sources of data.
At StatSoft, we have the opportunity to collaborate with, consult, and train colleagues in the areas of data analysis and predictive modelling in a variety of industries: automotive manufacturing, financial services, medical device manufacturing, pharmaceutical R&D and manufacturing, semiconductors, etc. What our experience has taught us is that, in a competitive economy, companies can focus on opportunities for utilizing advantages and streamlining. One category of opportunity is to leverage the data that your company has already collected and manages.
The STATISTICA Data Analysis and Data Mining Platform, including the STATISTICA Data Miner software, offers the most comprehensive and effective system of user-friendly tools for the entire data mining process – from querying databases to generating final reports. StatSoft’s data mining and predictive modelling software is available in single workstation, multiple-user (concurrent user licensing), and Enterprise editions.
STATISTICA Text Miner is an optional extension of STATISTICA Data Miner, ideal for translating unstructured text data into meaningful information.
The Enterprise edition provides an efficient server-platform, for off-loading resource-intensive model-building tasks, Web browser-based or Windows workstation clients, and central configurations of queries, analyses, report templates, and models.
STATISTICA Scorecard aids the development, evaluation and monitoring of scorecard models,STATISTICA Live Score is STATISTICA Server software within the STATISTICA Data Analysis and Data Mining Platform. Data are aggregated and cleaned and models are trained and validated using the STATISTICA Data Miner software. Once the models are validated, they are deployed to the STATISTICA Live Score server. STATISTICA Live Score provides multi-threaded, efficient, and platform-independent scoring of data from line-of-business applications.
STATISTICA Process Optimization, an optional extension of STATISTICA Data Miner, is a powerful software solution designed to monitor processes and identify and anticipate problems related to quality control and improvement with unmatched sensitivity and effectiveness.
Services (Consulting, Training)
StatSoft’s Professional Services offer data mining consulting and training. StatSoft offers an efficient ‘Quick Start’ package of training and consulting as an optional addition to the licensing of the STATISTICA Data Miner software, assisting new software users with delivering business value and return-on-investment as quickly as possible after the acquisition of the software. StatSoft’s consultants take a collaborative approach to projects, mapping the scope of services to fit your business priorities and available resources.
Information about Data Mining Methods
Below are useful links to StatSoft’s overviews of popular data mining methods provided in the STATISTICA Data Miner platform:
Classification and Regression Trees
Support Vector Machines
Naïve Bayesian Classifiers
Partial Least Squares
Independent Components Analysis