Predictive Analytics Software

Predictive Analytics Software Overview

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.

Top Rated Predictive Analytics Products

TrustRadius Top Rated for 2021

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.

Predictive Analytics Products

(1-25 of 63) Sorted by Most Reviews

The list of products below is based purely on reviews (sorted from most to least). There is no paid placement and analyst opinions do not influence their rankings. Here is our Promise to Buyers to ensure information on our site is reliable, useful, and worthy of your trust.
SAP Analytics Cloud

SAP Analytics Cloud combines planning, business intelligence, and predictive analytics as a unified cloud-based platform allowing visualization, planning and prediction to be performed within a single tool. It is built on top of the very fast SAP Cloud Platform, and integrates natively…

Key Features

  • Personalized dashboards (154)
    92%
    9.2
  • Color-coded scorecards (146)
    91%
    9.1
  • KPIs (150)
    91%
    9.1
RStudio

RStudio

Customer Verified
Top Rated

RStudio is a modular data science platform, combining open source and commercial products. The vendor states their open source offerings, such as the RStudio IDE, Shiny, rmarkdown and the many packages in the tidyverse, are used by millions of data scientists around the world to…

Key Features

  • Visualization (11)
    88%
    8.8
  • Extend Existing Data Sources (11)
    80%
    8.0
  • Automatic Data Format Detection (11)
    74%
    7.4
Alteryx

Alteryx

Customer Verified

Alteryx aims to be the launchpad for automation breakthroughs. Be it for personal growth, achieving transformative digital outcomes, or rapid innovation, the vendor boasts users will see unparalleled results. Alteryx converges analytics, data science and process automation into one…

Key Features

  • Integration with R or other statistical packages (42)
    88%
    8.8
  • Drill-down analysis (43)
    83%
    8.3
  • Formatting capabilities (48)
    75%
    7.5
IBM SPSS

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…

MATLAB

MATLAB

Customer Verified
Top Rated

MatLab is a predictive analytics and computing platform based on a proprietary programming language. MatLab is used across industry and academia.

MicroStrategy Analytics

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.

Key Features

  • Formatting capabilities (25)
    73%
    7.3
  • Pixel Perfect reports (24)
    63%
    6.3
  • Report Formatting Templates (25)
    63%
    6.3
Anaconda

Anaconda

Customer Verified
Top Rated

Anaconda is an open source Python distribution / data discovery & analytics platform.

Key Features

  • Data Transformations (27)
    88%
    8.8
  • Extend Existing Data Sources (25)
    86%
    8.6
  • Visualization (26)
    86%
    8.6
JMP Statistical Discovery Software from SAS

JMP is a division of SAS and the JMP family of products provide statistical discovery tools linked to dynamic data visualizations.

Key Features

  • Pre-built visualization formats (heatmaps, scatter plots etc.) (13)
    93%
    9.3
  • Location Analytics / Geographic Visualization (11)
    92%
    9.2
  • Predictive Analytics (11)
    86%
    8.6
Logi Info (Logi Analytics Platform)

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,…

Key Features

  • Customizable dashboards (22)
    90%
    9.0
  • Formatting capabilities (21)
    87%
    8.7
  • Report Formatting Templates (20)
    80%
    8.0
DataRobot

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…

Key Features

  • Interactive Data Analysis (18)
    82%
    8.2
  • Visualization (18)
    82%
    8.2
  • Automatic Data Format Detection (18)
    75%
    7.5
RapidMiner Studio

RapidMiner Studio is a data science and data mining platform from RapidMiner in Cambridge, Massachusetts.

SAS Advanced 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…

KNIME Analytics Platform

Swiss company KNIME offers their KNIME Analytics Platform for big data and predictive analytics.

OpenText Magellan

OpenText Magellan Analytics Suite leverages a comprehensive set of data analytics software to identify patterns, relationships and trends through data visualizations and interactive dashboards.

SAS Enterprise Guide

SAS Enterprise Guide is a menu-driven, Windows GUI tool for SAS.

IBM SPSS Modeler

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…

Lexalytics

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…

NICE Nexidia Predictive Behavioral Routing (formerly Mattersight)

The former Mattersight Predictive Behavioral Routing service is now part of NICE Nexidia Analytics since the

Dataiku DSS

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.

H2O

H2O.ai is an open-source predictive analytics and machine learning platform.

Panoply

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.

JMP Pro

JMP Pro offers all the capabilities of JMP, plus advanced features for more sophisticated analysis including predictive modeling and cross-validation techniques.

SAP Predictive Analytics

SAP Predictive Analytics is, as the name would suggest, a statistical analysis and data mining platform that can be deployed with SAP HANA.

AdvancedMiner

Designed to deploy predictive modelsOne tool for data processing, analysis and modeling! The user-friendly workflow interface helps you explore all your data & more. Supports all analytical tasks: Extracting and saving data from/to different database systems, files, and…

JarviX

Synergies is a cognitive application service provider that combines business knowledge, artificial intelligence technology, and software development. Their mission is to help businesses through their digital transformation journey, become leaders and innovators in their industries…

Learn More About Predictive Analytics Software

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.


Pricing Information

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.

Frequently Asked Questions

What are predictive analytics?

Predictive analytics use historical data to make claims about future actions, trends or events. They rely on complex software to analyze existing data and construct predictive models.

What are predictive analytics used for?

Predictive analytics have a wide range of uses, including sales and supply chain forecasting, modeling behavior, and financial modelling.

Why are predictive analytics important?

Predictive analytics software is crucial to leveraging your data as effectively as possible when predicting figure activity and decision-making.

What’s the difference between predictive analytics and machine learning?

Machine learning is a method of programming and teaching your system to take certain actions and develop certain models, while predictive analytics focuses on creating a future-focused output. Machine learning can be a method to conduct predictive analytics.

How much does predictive analytics software cost?

Some popular predictive analytics tools are free to use, but require more coding experience. More accessible products, with easier interfaces, can range from $20 per user per month to over $100 per user per month.