MooD International obtains UK Government backing for the next phase of its technology
– with MooD’s distinctive Causal Modelling approach already delivering significant value to major organisations
Innovation is vital for business growth, and the UK government-backed Technology Strategy Board is all about driving innovation. In July 2012, the Technology Strategy Board announced a Smart award to MooD International towards future development of MooD, the UK’s innovative software technology for Smarter Decisions.
The Technology Strategy Board’s aim is to accelerate economic growth by promoting research, development, and exploitation of key technologies to stimulate and support business-led innovation. Through the Smart scheme, the Board funds strategically important areas of science, engineering and technology.
Deciding on and taking the right courses of action to achieve the best business outcome is a critical capability in today's world. This is particularly the case for large, complex organizations, in which operations are under increasing pressure to drive out cost, deliver efficiencies, and improve effectiveness, often in a working environment that is weak in providing insight into how the different components of the business affect each other, directly or indirectly, and how these all add up to deliver the outcomes needed.
MooD is taking a new approach to addressing this need. Traditional BI approaches drive from the bottom-up, taking a data-driven approach. With today’s data volumes and dynamics, this approach can be effective in addressing tactical decisions, but the outputs generated don’t deliver the insights needed for the serious decisions now facing senior business roles. What’s needed is insight at a business level into the significant causal relationships that connect action with outcome, thus supporting decision making from the top-down.
MooD International has a strong track record of success through delivering innovation to its customers and partners, which include household names such as HP, MOD, Serco, Shell, BP and others. This innovation has been recognised through a range of key patents and awards, including a previous Smart award and two Queen’s Awards for Innovation.
Extending this successful track record, the Technology Strategy Board has now awarded MooD international with a Smart award, at the maximum value, towards the next phase of MooD’s innovative decision technology.