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

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 75) 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

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…

Key Features

  • KPIs (209)
    84%
    8.4
  • Personalized dashboards (217)
    84%
    8.4
  • Management reporting (205)
    82%
    8.2
Posit
Customer Verified
Top Rated

Posit, formerly RStudio, is a modular data science platform, combining open source and commercial products.

Key Features

  • Visualization (24)
    85%
    8.5
  • Connect to Multiple Data Sources (23)
    84%
    8.4
  • Extend Existing Data Sources (24)
    81%
    8.1
Alteryx
Customer Verified
Top Rated

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…

IBM SPSS Statistics

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

DataRobot
Customer Verified
Top Rated

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

  • Automated Machine Learning (43)
    93%
    9.3
  • Automatic Data Format Detection (42)
    82%
    8.2
  • Visualization (43)
    79%
    7.9
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 (23)
    49%
    4.9
  • Report Formatting Templates (23)
    33%
    3.3
  • Pixel Perfect reports (22)
    31%
    3.1
Anaconda

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

Key Features

  • Data Transformations (26)
    89%
    8.9
  • Visualization (25)
    87%
    8.7
  • Extend Existing Data Sources (24)
    87%
    8.7
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

  • Report sharing and collaboration (13)
    80%
    8.0
  • Pre-built visualization formats (heatmaps, scatter plots etc.) (16)
    80%
    8.0
  • Drill-down analysis (13)
    77%
    7.7
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

  • Report Formatting Templates (22)
    85%
    8.5
  • Formatting capabilities (23)
    80%
    8.0
  • Customizable dashboards (24)
    80%
    8.0
Splunk IT Service Intelligence (ITSI)

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

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’…

KNIME Analytics Platform

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

Key Features

  • Automatic Data Format Detection (9)
    77%
    7.7
  • Extend Existing Data Sources (9)
    76%
    7.6
  • Connect to Multiple Data Sources (9)
    70%
    7.0
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…

SAS Enterprise Guide

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

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.

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…

Amazon Forecast

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

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

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

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.

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.

Mage

Mage is a tool that helps product developers use AI and their data to make predictions. Use cases might be predictions for churn prevention, product recommendations, customer lifetime value and forecasting sales.

Course5 Discovery

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…

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.

Related Categories

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.