Predictive Analytics Software
Best Predictive Analytics Software
- Top Rated Predictive Analytics Software include: KNIME Analytics Platform, Anaconda, RStudio, Alteryx Analytics, and RapidMiner Studio.
- Other Predictive Analytics Software on the TrustMap include: MATLAB, IBM SPSS, SAS Advanced Analytics, JMP Statistical Discovery Software from SAS, and MicroStrategy.
- A complete list of Predictive Analytics Software is available here.
TrustMaps are two-dimensional charts that compare products based on satisfaction ratings and research frequency by prospective buyers. Products must have 10 or more ratings to appear on this TrustMap, and those above the median line are considered Top Rated.
Predictive Analytics Software
What is Predictive Analytics Software?
Predictive Analytics are used to analyze current data and historical facts in order to better understand customers, products, and partners. It is 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.
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 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.
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.
Predictive Analytics Products
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 collaboration and...
MicroStrategy Analytics is a platform for Business Intelligence (BI) and self-service analytics. It enables organizations worldwide to analyze the vast amounts of data stored across their enterprises to make better business decisions. MicroStrategy currently has 3 versions: MicroStrategy...
Mattersight Behavioral Analytics is a solution that includes millions of pre-built algorithms that automatically decode every second of captured human interaction to provide enterprises with actionable insight to drive significant business value. Behavioral Analytics consists of three main...
Alteryx Analytics is a business intelligence and predictive analytics offering.
MatLab is a predictive analytics and computing platform based on a proprietary programming language. MatLab is used across industry and academia.
JMP is a division of SAS and the JMP family of products provide statistical discovery tools linked to dynamic data visualizations.
RapidMiner Studio is a data science and data mining platform from RapidMiner in Cambridge, Massachusetts.
Logi Analytics 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, long lasting applications. The vendor...
RStudio is a free and open-source integrated development environment for R, a programming language for statistical computing and graphics.
Anaconda is an open source Python distribution / data discovery & analytics platform.
Mattersight Predictive Behavioral Routing automatically routes calls by using advanced algorithms that predict the best available agent to handle each specific caller based upon performance, personal strengths, previous interaction history and behavioral characteristics such as personality and...
Swiss company KNIME offers their KNIME Analytics Platform for big data and predictive analytics.
Oracle Advanced Analytics combines the Oracle database with the Oracle Data Mining and Oracle R Enterprise components (adding R programming language functionality), providing an complete predictive analytics suite.
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 be easy to use with...
Loom Systems is designed to empower IT teams by simplifying root cause analysis. According to the vendor, the platform automatically ingests and analyzes all types of logs and metrics, learns their unique behavior over time, detects anomalies and trends, and reports these along with the root cause....
SAP Predictive Analytics is, as the name would suggest, a statistical analysis and data mining platform that can be deployed with SAP HANA.
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 of...
TIBCO's Spotfire Data Science is a cloud-based data science platform designed to orchestrate analytics across hybrid data and compute environments.
Microsoft Cortana Intelligence Suite is a predictive analytics platform using the R programming language.
Frontline Systems Analytic Solver is an Excel add-on for performing data mining, and predictive analytics from within Microsoft Excel.