Meet the Top 5 Faces of Predictive Analytics
Big data is changing business strategies from one industry to the next. At the same time, big data itself is changing rapidly. The sole focus of analytics is no longer to figure out why a company’s website traffic has declined. It’s about stabilizing and increasing traffic before it even has a chance to drop off. This is the driving force behind predictive analytics.
Segment wise, predictive analytics is one of the hottest trends in big data and one experts see making an increasingly bigger splash moving forward. In the meantime, let us introduce you to the five companies generating the most buzz in delivering this technology.
Predictive analytics is a part of Oracle’s robust Advanced Analtyics offering that includes data and text mining, data visualization, and statistical analysis. In the world of Oracle, predictive analytics, also known as one-click data mining, is a tool used to simplify the process of data mining. Once creating their profiles, companies can use this tool to identify factors that are driving specific results, predict the most likely results, and determine just how much faith they have in those predictions. According to Oracle, users don’t have to be data mining experts in order to flourish with predictive analytics
Long-time Oracle rival SAP aims to make big data easy with its very own predictive solution. Predictive analytics with SAP delivers automation capabilities that enable data preparation, modeling, and, deployment tasks to be completed in a matter of hours and in some cases, minutes. The platform can be scaled to support petabytes of data and extended to other business intelligence applications where greater insights are needed. SAP claims that its solution improves accuracy and eliminates errors by accounting for all potentially valuable predictive factors.
Computer manufacturing giant Dell officially made its mark in big data with the recent acquisition of Statistica. Formerly known as StatSoft, Statistica aims to give businesses a competitive advantage by leveraging their data to the full extent. Data scientists and analysts can use a broad range of scripting languages to create models, including the industry standard PMML, Java, and SQL. Business users who don’t know a thing about modeling can also thrive with an intuitive interface that allows for the easy preparation, reporting, and analyzing of structured and unstructured data.
Big data gets pretty complicated, so IBM follows the trend of arming customers with user-friendly tools. IBM offers a predictive analytics suite that accommodates both seasoned and novice data masters alike. Analysts have the power to turn structured and unstructured data into insights that allow them to anticipate customer behavior and make business decisions that boost profitability, while maximizing productivity throughout the organization. There are also tools available to measure the impact of products, services, and marketing efforts across the social media space.
One of the true pioneers of enterprise analytics and business intelligence, Actuate tackles predictive analytics with BIRT Analytics, a self-service platform that allows companies to harness huge chunks of actionable data in ad-hoc fashion. BIRT Analytics combines simple data visualization with flexible reporting and sophisticated algorithmic capabilities to give business users access to powerful analytics tools that were traditionally limited to data scientists. Actuate is specifically catering to those who lack the techincal prowess needed to leverage predictive analytics with their existing applications.
Predictive analytics has existed in one form or another for well over two decades. Adoption has been slower than some expected, but the continued rise of big data will surely open more eyes to this promising technology that gives businesses the closest thing they’ll ever have to a crystal ball.
by Big Data Companies