Creating Product Models

The Creating Product Models page provides a detailed guide on how to create, configure, and manage product models in the Scorport Platform. This process allows you to define products tailored to decision outcomes such as "Yes", "Maybe", or "No", offering dynamic and customized experiences for each user. Additionally, with the Limit Management Option, you can implement rules to manage credit limits or other restrictions dynamically.

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Steps to Create a Product Model

Step 1: Start with a New Product Model

1. Navigate to the Product Designer module from your dashboard.
2. Click "Create New Product Model".
3. Provide the following details:
   • Name: Enter a descriptive name for the product model (e.g., “Loan Offers for High Scores”).
   • Description: Add a brief description of the model (e.g., “Tailored loan interest rates and additional benefits for high-score applicants”).

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Step 2: Explore Sample Products

1. Open the Product File:

   • Once the product model is created, click on the file to open the configuration interface.
   • The system will display sample products as a reference to help you get started.

2. Review and Edit:

   • Customize the sample products or remove them to define your own.

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Step 3: Create Products for Each Decision Style

1. Select Decision Styles:

   • Configure products for different decision outcomes (Yes, Maybe, No).
   • For example:
     • Yes: Premium offers with lower interest rates and additional perks.
     • Maybe: Flexible offers with higher interest rates and fewer perks.
     • No: Alternative services or follow-up recommendations.

2. Define Score-Based Diversification:

   • Set up products based on score ranges for each decision:
     • Example for Yes Decision:
       • Score 750–800 → Interest rate: 10%.
       • Score 800–850 → Interest rate: 9%.
       • Score 850–900 → Interest rate: 8%.

3. Add Attributes to Groups:

   • For each score range, add diverse product attributes:
     • Example:
       • For Score 750–800:
         • Loan period: 24 months.
         • Additional offer: Free Premium Card.
       • For Score 800–850:
         • Loan period: 36 months.
         • Additional offer: Discounted annual fee.

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Step 4: Add Limit Management Options

1. Enable Limit Rules:

   • In the Product Module, enable Limit Management for products that require dynamic limits (e.g., credit lines).

2. Define Scenarios for Limit Adjustments:

   • Use Calculation Rules to dynamically adjust limits based on specific conditions.
   • Example Rules:
     • Increase Limit: If the applicant's score increases by 5% compared to last month, increase the credit limit by 50%.
     • Decrease Limit: If the borrower has their first overdue of 30 days, decrease the credit limit by 50%.

3. Assign Rules to Products:

   • Link the calculation rules to specific products within the Product Module.
   • For example:
     • A credit line product can have multiple scenarios based on score changes or repayment behavior.

4. Test and Refine:

   • Test the scenarios with sample data to ensure the calculations work as expected.

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Step 5: Expand and Diversify Product Groups

1. Add as many product groups as needed to match your decision logic.

   • Groups can be defined by:
     • Characteristics: Fixed or ranged attributes.
     • Decision Outcome: Tailored to "Yes," "Maybe," or "No."

2. Define additional attributes to diversify offerings:

   • Loan periods, card perks, discounts, or other customizable options.

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Step 6: Finalize and Save

1. Review Configuration:

   • Verify that all decision outcomes have associated products.
   • Ensure score ranges, attributes, and limit rules are defined correctly.

2. Save the Product Model:

   • Save your model for integration into the strategy workflow.
   • Your product model is now ready to be used in the generated engine.

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How It Works in the Final Engine

• The Final User of the Engine will see the tailored products based on the decision outcome and the specific criteria defined in the Product Model.
• For example:
  • A high-score applicant might see:
    • Loan interest rate: 8%.
    • Loan period: 36 months.
    • Additional perk: Free Premium Card.
    • Credit Line Limit: Dynamically adjusted based on their score history.

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Benefits of Creating Product Models with Limit Management

1. Customized Offers:

   • Tailor products to match decision outcomes and user profiles.

2. Dynamic Limit Adjustments:

   • Automatically adjust product limits based on user behavior or calculated variables.

3. Scalability:

   • Expand product groups, attributes, and limit scenarios as your business grows.

4. Streamlined Integration:

   • Finalized product models integrate seamlessly into strategies for automated execution.

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The Product Designer module, with its limit management capabilities, ensures businesses can deliver precise, flexible, and impactful product offerings.