What is Predictive Analytics?
A branch of data analytics, predictive analytics is an artificial intelligence technology that lets organizations obtain predictive results or probable outcomes on the basis of past data sets.
With the help of current data patterns, machine learning or predictive modelling algorithms empowered by artificial intelligence enable computers to compute predictive patterns for better decision-making and operations.
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Through an array of predictive modelling techniques like classification predictive modelling, cluster modelling, and outliers model, predictive analytics can be conducted successfully.
By running a series of data sets through a machine learning model fit for predictive modelling, any organization or institution can avail themselves of predictive patterns that will indicate the probable consequences of a particular action or decision that the organization might make in the effect of the ongoing operations.
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Data mining, a very essential aspect of AI in business analytics, has led the industrial sector towards an insightful era of decision-making and business management.
In past decades, organizations used to accumulate tons of data but could not dig deep into it due to the absence of technologically empowered models. Manual labor was insufficient to errorlessly extract actionable insights from vast amounts of data.
Perhaps as soon as artificial intelligence expanded and the scope to use it in the field of business management became broadened, predictive analytics in business emerged on the surface leading to a helpful concept that continues to help numerous organizations around the world.
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With the help of the best predictive analytics tools, predictive analytics can be implemented to use datasets as inputs and obtain predictive results as output.
Top Predictive Analytics Tools
With a rich library of over 1500 machine learning algorithms, RapidMiner is one of the leading predictive analytics tools examples that provides the best possible techniques for extracting predictive patterns for decision-making processes in an enterprise.
From daily customer churn cases to fraud detection, this tool helps to apply the technology of predictive analytics in various fields of the real world. An easy user interface and high-speed technology are the striking features of this tool.
By providing a customized analytics creation software, TIBCO, one of the topmost predictive analytics tools really steals the show when it comes to offering the best it can.
By enabling companies to elevate their decision-making process and progress in business analytics, TIBCO is an extremely useful tool that offers a hassle-free interface, consumable technology, and advanced machine learning tools.
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An end-to-end interface that aims to democratize artificial intelligence techniques and tools to help one and all access the technology, H2O is a predictive analytics tool that remains to be a top choice among all other such tools.
World-class algorithms, scalable benefits, and extensive performance are some of the striking features that make this predictive analytics tool one of the best ones available in 2021.
In the contemporary world, data privacy and customizable experience are the two most desired traits of any data analytics tool.
Sisense, a predictive analytics tool, is a high-speed platform that focuses on data privacy and does not compromise your data’s security while extracting possible outcomes based on a business’s decisions.
Furthermore, this tool offers a customizable experience and can be used by both beginners and experts.
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Business Intelligence has become one of the most prominent fields in the industrial sector in today’s time. With everything revolving around the virtual world, the need to stay hinged to modern-day trends and applications is dire.
Perhaps Halo, a tool of predictive analytics techniques, empowers a business to implement predictive analytics technology to help it determine the kind of outcomes it will have to bear based on the decisions it will make.
Google AI Platform
Google is known for its splendid user interface and advanced algorithms when it comes to technology. Even in the case of predictive analytics tools, Google tops the list!
Google AI Platform is a predictive analytics platform that offers its users a vast variety of machine learning tools and techniques to conduct AI Platform Prediction. That said, it allows one to save desired algorithms that are then put to use.
By boosting the confidence of a business, predictive analytics technology does not only empower an enterprise, but it also helps one to make a way out of faulty decisions at the correct time.
That said, the next tool on the list is Microsoft Azure. With a team of AI models like deep learning, neural networks, and decision trees, Microsoft has launched its own predictive modelling tool that has so much to offer.
SAP Predictive Analytics
Business Intelligence is the key to a profitable business and increased chances of success in the long run. And SAP Analytics Cloud is here to do just that.
A cloud computing platform that offers services related to data analytics, enhances the way businesses formulate their strategies and create operation management plans.
It is more than just analysis, it is added assistance to make way for a successful enterprise!
Alteryx Analytics, another one of the most sought-after predictive modelling tools, is exactly what you need if you are looking for a hassle-free, aggressive, and fast predictive analytics tool.
A set of algorithms is not enough for a data analyst to seek probable outcomes. Perhaps Alteryx is undoubtedly more than just capable of offering algorithms. It also provides advanced drag and drop tools.
“Alteryx offers 40+ easy-to-use, drag-and-drop tools to make applying predictive analytics to data sets simple and reliable”.Predictive Analytics using Alteryx
A cloud computing platform, DataRobot is an established predictive analytics tool that relies on artificial intelligence techniques to give way to advanced models for business intelligence.
With leading tech companies working with this cloud company, one can truly trust the customer service DataRobot provides to its users from all around the world.
IBM Predictive Analytics
A pioneer in the field of technology, IBM is a leading predictive analytics platform that reveals the underlying risks and possible outcomes of a business with the help of customized algorithms for predictive analytics.
An intuitive platform that is more than just an analytics tool, IBM is all an enterprise can rely on if predictive modelling is their concern.
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KNIME Analytics Platform
A continuously evolving and advancing data analytics platform, KNIME is a suitable platform when it comes to predictive analytics.
Thanks to KNIME, data analytics has been substantially made easy, considering that this platform offers a variety of services like tool blending, open-source ML tools, developing customized AI algorithms, and lots more.
SAS Predictive Analysis
With technology becoming more accessible to the masses, more and more people are looking to try their hands at predictive analytics. With cutting-edge technology and proven results,
SAS data mining software has made its mark among techies from all around the world. A leading predictive analytics tool, this platform has an upper hand when it comes to solving complex business problems.
The evident rise of big data technology has led the world of technology to enter into the realm of predictive analytics.
Even though there is cut-throat competition among the topmost predictive analytics platforms, MATLAB stands out in terms of problem-solving and long-term stability.
More than that, it offers an advanced range of data engineering services that lead to informed decision-making strategies and more insightful actions in the long run.
Oracle Data Mining
A range of advanced machine learning algorithms defines the kind of impressive performance Oracle Data Mining gives away.
With many in-built algorithms to guide on around using various predictive modelling techniques, this platform is a one-stop solution to many problems related to business management.
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To conclude, predictive analytics can give an upper hand to business enterprises when it comes to problem-solving and decision-making.
Unlike earlier times when decisions had to be based on experience and no evidence, the contemporary era calls for more informed decisions based on what the technology suggests.
That said, it is affirmative to use predictive analytics tools for better growth and increased success rate in the long run. Be it marketing or fraud detection, predictive analytics is useful for a variety of sectors that will continue to benefit from this milestone technology.