Podcast

Dana Gardner's podcast (Interarbor Solutions) discusses business rules management (BRM) and explores the value of businesses being agile in a safe way. He is joined by Don Griest (FICO), Rik Chomko (InRule Technology) and Brett Stineman (IBM).

DGardner: “Don, tell me a little bit about your history. How is it that business rules management plays an important role at your company?”

DGriest: “FICO is probably best known for FICO score which is used in credit decisions, when you get a credit card or apply for a loan for a house. It’s been around 50 years now and started with a couple of statisticians, Bill Fair and Earl Isaac. They came up with a way of using data analytics to improve decisions. They quickly found out that giving people a good credit score wasn’t enough and that they needed to apply those decisions in making offers on products and making decisions about the credit risk. So they started building applications for banking and then eventually insurance, retail, healthcare and a lot of other industries to help them make decisions that were informed both by the best practices that were in the policies, but also by analytics including predictive analytics, predictive modelling, simulation and optimization.”