Predictive Analytics Software
Best Predictive Analytics Software
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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
Listings (26-47 of 47)
Microsoft Cortana Intelligence Suite is a predictive analytics platform using the R programming language.
The Weather Company, an IBM Business, provides weather forecasts globally with personalized and actionable insights to millions of consumers and thousands of businesses. The product provides weather intelligence and insight on any device.
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.
Angoss Software in Toronto offers KnowledgeSTUDIO, billed as an easy to use data mining and predictive analytics platform. Angoss Software was acquired by Datawatch Corporation in January 2018, Angoss products are now supported by Datawatch.
Loom Systems is a patent-pending AIOps solution that is designed to predict and solve IT incidents in enterprises undergoing a digital transformation or cloud migration. The vendor says Loom Systems is the only AIOps solution to predict IT issues before they impact customers, and enrich alerts wi...
Uptake is a predictive analytics platform that allows industrial enterprises to manage their operating plans, equipment, supply chain, fuel use, etc. The vendor says these solutions can improve uptime, minimize failures, reduce fuel costs, and streamline operations.
Analytica is a data modeling and decision analytics platform from Lumina Decision Systems headquartered in Los Gatos, California.
The FICO Model Builder is a predictive analytics and modeling tool, from FICO.
nGAGEMENT by nGUVU uses game mechanics, social media and interactive features, machine learning, and behavioral analytics to drive performance at the agent level. The vendor says their software motivates agents to achieve their objectives by immersing them in a fun game-like environment. Accordin...
DAVinCI LABS is an artificial intelligence based predictive analytics software that discovers patterns within enterprise data with machine learning algorithms. The findings will be converted into a deployable prediction model that can be easily integrated with virtually any strategic system. It c...
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.
Salford Predictive Modeler is a predictive analytics and data mining platform. The company was acquired by Minitab in March 2017.
Afiniti is an applied AI tool that analyzes demographic information and interpersonal behavior on call center calls to predict optimal customer/agent pairings, and route calls accordingly - a process the vendor refers to as Enterprise Behavioral Routing, or EBP. The vendor says that using EBP vs....
MapD is an open-source database and visualization platform leveraging the parallel processing power of GPUs (rather than CPUs) to process very large volumes of data in milliseconds.
WizSoft is a predictive analytics tool based on an "if-then" algorithm allowing users to uncover relationships between data that were initially hidden.
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 data transform...
Price2Spy is an online price monitoring, price comparison and repricing tool developed by WEBCentric d.o.o. (a software development company), for eCommerce professionals. The tool launched back in 2011 and, according to the vendor, is currently used by more than 600 companies of all sizes, worldw...
Pi Dashboard Pi is the vendor's easy-to-use business intelligence dashboard. Interactive dashboards offer a single reporting tool which can show data from multiple sources, enabling any user to visualize and interact with their data in real time, anywhere, on any device. Pi Analytics The vendor s...