Predictive Analytics Software
Best Predictive Analytics Software
- Top Rated Predictive Analytics Software include: RStudio, Alteryx Analytics, Anaconda, MATLAB, and SAS Advanced Analytics.
- Other Predictive Analytics Software on the TrustMap include: IBM SPSS, RapidMiner Studio, JMP Statistical Discovery Software from SAS, MicroStrategy, and TIBCO Statistica.
- 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.
JMP is a division of SAS and the JMP family of products provide statistical discovery tools linked to dynamic data visualizations.
MatLab is a predictive analytics and computing platform based on a proprietary programming language. MatLab is used across industry and academia.
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.
RapidMiner Studio is a predictive analytics platform, from RapidMiner in Cambridge, Massachusetts.
TIBCO Statistica offers a comprehensive and open analytics portfolio featuring the latest techniques – via code free and open source programming. According to the vendor key features and business benefits include: • Accelerate innovation and solve your organization’s most complex problems by...
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...
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.
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...
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...
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.
Competera dynamic pricing platform designed for midsize and enterprise eCommerce retailers with mature and automated pricing framework, experience issues with competitive data quality, who see a room for improvement with help of competitive data and price monitoring.Competitive Data product is a...
SAS Financial Intelligence provides predictive capabilities which allow customers to estimate the likelihood of meeting specific forecasts and estimations integration and cleansing of all financial data, budgeting, forecasting, scorecarding, simulation, and risk management.predi
Alpine Data Labs in San Francisco, California offers TouchPoints, their latest predictive analytics platform.