SMARTS latest release empowers business experts to experiment, measure, and deploy the most effective decisioning strategy.
Sparkling Logic today announced the general availability of the Lisbon release of their SMARTS™ next-generation decision management system. This release is the first decision management offering to provide built-in support for the well-established Champion/Challenger methodology, which is commonly used to evaluate the effectiveness of changes to the organization’s decision logic particularly for marketing and risk decisions involving some degree of uncertainty.
“Champion/Challenger testing allows organizations to create a true measure of the performance differential between two or more decision strategies and controls the costs and risks that arise when a new strategy is implemented,” says Larry Rosenberger, former President and CEO of Fair Isaac. “By integrating well-thought out support for Champion/Challenger into SMARTS, Sparkling Logic is enabling organizations to improve their operational decisions continually.”
In Champion/Challenger testing, the current approach is the “Champion.” Challenger approaches are developed based on an idea, or hypothesis, that a different decisioning strategy will outperform the Champion. It could be something small, like taking a new attribute into account in a credit decision, or it could be a whole different decision strategy. Once the Challenger is created it needs to be tested against the Champion (the current decisioning strategy). Typically these experiments take time since enough transactions must be processed by the Challenger to compare the results to the Champion. Since regulations, market conditions, and customer behavior are constantly changing, a Challenger can be out of date by the time it is deemed worthy to become the new Champion.
The latest SMARTS release address this speed to market problem by enabling business experts to quickly develop new experiments and test them in a simulation environment using recent transactions and historical data in order to assess the actual lift that a Challenger would give had it been the current Champion. SMARTS provides a powerful, yet easy to use, reporting and performance management dashboard to measure results and the selected Challengers can then be deployed to the production environment or a Challenger can be promoted to become the new Champion. “Our latest SMARTS release is consistent with our philosophy of providing sophisticated tools and technologies that are accessible to business analysts and business users so they can immediately focus their business expertise on improving the results of their automated decisions,” says Carole-Ann Matignon, Sparkling Logic CEO.
About Sparkling Logic
Sparkling Logic Inc. is a California-based company leading technology innovation in Decision Management. Its SMARTS™ decision management system empowers business experts and business analysts in organizations that need to automate and improve business decisions. SMARTS uniquely leverages data in the decision management environment to facilitate the capture of business rules in the context of use cases, asses the impact of changes in the decision strategy, and combine decision logic revealed in historical data with business rules based on business policy and expertise.
Learn more about Sparkling Logic at www.sparklinglogic.com.
Sparkling Logic, Sparkling Logic SMARTS, RedPen and BluePen are trademarks of Sparkling Logic, Inc. in the United States and in other countries. Patents Pending.