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Our Bureau

Bangalore June 22 You walk into a store, and buy an iPod, buy a music system the next day, and on the third day, the retailer would be able to predict what you plan to buy, using software by Fair Isaac.

e-commerce solutions

The US-based firm offers analytic software, business intelligence and e-commerce solutions to retail, banking and finance and telecom companies.

The software uses an algorithm that analyses data on buying behaviour of consumers worldwide, and obtains buying patterns based on different criteria such as location, age, previous purchases etc.

The accuracy of the software was not shared by the company. Such solutions give service providers an upper hand in the market.

"The retail solution helps in cross-selling, and increasing wallet share," he said.

Giving another instance of its software in use, Dr Mark N Greene, CEO, Fair Isaac, said, "If there's irregular activity in your bank account, our software will alert the bank about possibility of a fraud."

The company has solutions for a $20 billion market, and has 7-8 per cent market share now. It plans to double this share in the near term.

With government mandates such as BASEL2 being put in place and with increasing penetration of credit cards in the country, the firm expects a growth in business opportunities. It has about 200 clients, including ICICI Bank.

The firm will set up a sales office in Mumbai and hire 50-100 to add to the developer and analytics team at its Bangalore centre

. The centre will focus on service oriented architecture and Web services, he said. Currently the company employs 300 of which 25 per cent are in research and development.

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