Predictive Analytics Software
These products won a Top Rated award for having excellent customer satisfaction ratings. The list is based purely on reviews; there is no paid placement, and analyst opinions do not influence the rankings. Read more about the Top Rated criteria.
Predictive Analytics Software TrustMap
TrustMaps are two-dimensional charts that compare products based on trScore and research frequency by prospective buyers. Products must have 10 or more ratings to appear on this TrustMap.
The SAP Analytics Cloud solution brings together analytics and planning with integration to SAP applications and access to heterogenous data sources. As the analytics and planning solution within SAP Business Technology Platform, SAP Analytics Cloud supports trusted insights and…
Posit, formerly RStudio, is a modular data science platform, combining open source and commercial products.
Alteryx aims to be the launchpad for automation breakthroughs. Be it for personal growth, achieving transformative digital outcomes, or rapid innovation, Alteryx converges analytics, data science and process automation to enable users across organizations to make business-altering…
SPSS Statistics is a software package used for statistical analysis. It is now officially named "IBM SPSS Statistics". Companion products in the same family are used for survey authoring and deployment (IBM SPSS Data Collection), data mining (IBM SPSS Modeler), text analytics, and…
The DataRobot AI Cloud platform is presented as a solution that accelerates and democratizes data science by automating the end-to-end journey from data to value and allows users to deploy AI applications at scale. DataRobot provides a centrally governed platform that gives users…
MicroStrategy Analytics is an enterprise business analytics and mobility platform. Key features include automatic big data analysis and reporting, data discovery and visualization, digital security credentials, and support for mobile devices.
Anaconda is an open source Python distribution / data discovery & analytics platform.
JMP is a division of SAS and the JMP family of products provide statistical discovery tools linked to dynamic data visualizations.
Logi Info (or the Logi Analytics Platform) is a developer-grade analytics platform designed for application teams needing to rapidly build, deploy, and maintain mission-critical applications. Logi serves the embedded model, so companies increase the likelihood of building valuable,…
Splunk supports IT operations analytics with the Splunk IT Service Intelligence premium offering, a software application available to subscribers to Splunk Cloud or Splunk Enterprise log analytics and SIEM platforms.
RapidMiner is a data science and data mining platform, from Altair since the late 2022 acquisition. RapidMiner offers full automation for non-coding domain experts, an integrated JupyterLab environment for seasoned data scientists, and a visual drag-and-drop designer. RapidMiner’…
Swiss company KNIME offers their KNIME Analytics Platform for big data and predictive analytics.
SAS Advanced Analytics is the company's suite of applications and modules for advanced statistical analysis and predictive modeling. Products from the suite are available a la carte or in bundles, such as SAS Analytics Pro, which offers an alternative to mixing and matching software…
SAS Enterprise Guide is a menu-driven, Windows GUI tool for SAS.
OpenText Magellan Analytics Suite leverages a comprehensive set of data analytics software to identify patterns, relationships and trends through data visualizations and interactive dashboards.
IBM SPSS Modeler is a predictive analytics platform that helps users build accurate predictive models quickly and deliver predictive intelligence to individuals, groups, systems, and enterprises. With an intuitive interface and drag-and-drop features, the software is designed to…
Amazon Forecast is a fully managed service that uses machine learning to deliver accurate forecasts. Amazon Forecast can use historical time series data (e.g., price, promotions, economic performance metrics) to create accurate forecasts for businesses.
Shiny from Posit (formerly RStudio) is an open-source R package that make it easy for users to build web apps directly from within R. Users can host Shiny apps behind the firewall with Posit Connect or Shiny Server Pro.
Lexalytics (formerly Semantria) is a software-as-a-service and services provider specializing in cloud-based text analytics and sentiment analysis. This business intelligence (BI)/analytics tool offers an easy way to unlock meaningful insights and sentiment analysis from large amounts…
The former Mattersight Predictive Behavioral Routing service is now part of NICE Nexidia Analytics since the
Dataiku is a French startup and its product, DSS, is a challenger to market incumbents and features some visual tools to assist in building workflows.
Panoply is an ETL-less, smart end-to-end data management system built for the cloud. Panoply specializes as a unified ELT and Data Warehouse platform with integrated visualization capabilities and storage optimization algorithms.
Course5 Discovery is an AI-powered Augmented Analytics solution that aims to deliver fast, relevant, actionable and humanized insights across multiple consumption mediums and personas to create an insights-first culture that rewards data-driven decision making. Course5 Discovery…
What are Predictive Analytics Tools?
Predictive Analytics tools are used to analyze current data and historical facts in order to better understand customers, products, and partners. They are also used to identify potential risks and opportunities. Predictive analytics platforms tend to be very complex products and require advanced skill sets in order to use them effectively.
In the hands of skilled data analysts and data scientists, predictive analytics can be an extremely powerful tool. It can, for example, calculate customer lifetime value for a given customer; estimate sales projections for the next quarter, or predict what product an online shopper is likely to purchase next.
Predictive analytics tools make these analyses much easier and more accessible for organizations. They make leveraging disparate data sources into single analyses a lighter manual load. Predictive analytics platforms can standardize or even automate some repeated analyses. Intelligent analytics engines can also make new or ad hoc analysis more accessible for technical and business analysts alike. These tools lower the barrier to entry for many non-specialized users, although this is not universal across all analytics platforms.
What is Predictive Analytics?
Predictive analytics explore, process, and aggregate historical data, then apply various predictive modelling techniques to determine potential future outcomes. Predictive analytics help users and organizations better understand what is likely to happen in the future, based on what has occurred in the past.
Predictive analytics is one of the more advanced forms of business analytics. It fits within this range of analysis types available to organizations:
Descriptive analytics: provides a real-time view of what is occurring right now. Current stock prices are one example of descriptive analytics.
Diagnostic analytics: These analyses help explain why or how something occurred or is currently happening.
Predictive analytics: These analytics use descriptive or diagnostic data to determine future outcomes.
Prescriptive analytics: These help guide what should be done to create a given outcome.
Predictive analytics can often overlap or evolve into prescriptive analytics. The functional difference is how the analytics tool is utilized or deployed. Predictive analytics can also be used prescriptively to inform other business decisions, either via standardized reporting or ad hoc strategic assessments.
The Importance of Good Data
The basis for good predictive outcomes is good data. For example, to make predictions about what customers are likely to buy in the future, it's essential to have detailed data on what they have bought in the past, attributes of purchased products, etc.
Provided there is adequate high-quality data, predictive models are created using techniques like regression testing, decision trees or other methodologies to measure degree of correlation between variables to help predict future behavior. Predictive analytics tools will often leverage big data to make more informed and accurate predictions and assessments that are beyond the scope of manual analyses.
Predictive Analytics vs. Business Intelligence
Predictive Analytics tools are strongly related to Business Intelligence, and they are sometimes considered as part of the BI universe. The distinction between BI and predictive analytics is that BI is usually considered descriptive, i.e. looking at what happened in the past. Predictive analytics is about finding hidden patterns in data using complex mathematical models to predict future outcomes.
The emergence of big data platforms like Hadoop and very fast in-memory analytics products has resulted in some blurring of the lines between big data and predictive analytics.
Predictive Analytics Software Comparison
Consider these factors when comparing predictive analytics tools:
User Base: Who will primarily be using the predictive analytics tool? Will it be business users or technical specialists, such as data scientists? The main user base will impact the necessary accessibility/ease of use for each product, as business users will likely need less technical methods of interacting with the analyses.
Integration: What data sources should the product be able to pull from? Where and how will analyses be used, or what other systems should the product send data to? Consider what existing tools the organization uses, then cross-reference that with what the product can demonstrably integrate with.
Pricing: Predictive analytics pricing can range from open-source options to tailored enterprise platforms that are thousands of dollars per user. However, organizations also get the customization and ease of use that they pay for. Once the use case, user base, and necessary features have been clarified, ensure that each product’s pricing structure aligns with your specific use case.
A couple of well-known incumbent products own the lion’s share of the market and these tools tend to be much more expensive than newer upstart products with much smaller market share. One of the leading products in the category costs over $5,000 per user. Newer, less well-known products typically cost a fraction of the cost of the market leaders.
The free, open-source R programming language has more than 3,000 community-developed analytical applications, but can be challenging to use since it is code-based and does not have a drag-and-drop visual workspace.