Proving the Business Case for the Internet of Things

Fico platform analyses big data in real time

Steve Rogerson
February 26, 2015
 
A streaming analytics and real-time distributed processing platform that ingests, normalises, correlates and distils big data as it is being generated has been introduced by California-based Fico.
 
The data management integration platform provides a way to deliver timely and actionable insights to applications that need to respond to what’s happening now and anticipate what will happen in the future. The platform collects, filters and aggregates batch and streaming data from hundreds of sources and analyses them on the fly, providing applications with more agility and responsiveness to deliver decisions when and where they matter.
 
"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 those data while the decision is still relevant," said Stuart Wells, chief technology officer at Fico. "The 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."
 
The platform forms part of the company’s decision management suite that helps organisations evaluate, customise, deploy and scale analytics and decision management.
 
"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 and analytics, and cloud – resulting in millions of applications available to billions of end points," said Brian McDonough, research manager for business analytics at IDC. "The internet of things has already started to produce a huge mass of data, but there is no value in those data until data-processing technology and analytics are ready to take on the challenge in real time.