In today’s cut-throat world of business, it is extremely important for organizations to make use of all the available tools and technologies to ensure that their business grows and succeeds. One of the best ways to increase your organization’s efficiency and productivity, detect fraud, eliminate or reduce risks, etc., is to take advantage of predictive analytics software. This software has become crucial for businesses of every size and type which is why you will find several predictive analytics software available in the market today.
In this post, find out all about predictive analytics software and a brief description of the six top predictive analytics software.
Table of Contents
What is Predictive Analytics Software?
Predictive analytics software is a platform that provides all the necessary tools to analyze historical data patterns and provide the required predictions. This software uses the existing data to determine the various trends and patterns through data mining, machine learning, statistical techniques, and using different predictive models like classification and regression. Decision-makers can use this information to plan various aspects of their business which will help in boosting the productivity and success of their overall business.
Top 6 Predictive Analytics Software
As mentioned earlier, today there is no dearth of options when it comes to choosing predictive analytics software. Different software offers different features and functionalities; hence, it is vital that you conduct thorough research and choose the one that best matches your business needs.
To make it easier for you, we have conducted the required research and narrowed it down to the six best predictive analytics software available in the market today.
1. SAS Advanced Analytics
SAS Advanced Analytics is one of the best business intelligence software for large enterprises. It provides a complete suite of all the necessary predictive analytics tools, such as data mining, statistical analysis, forecasting tools, text analytics, and more. This platform offers advanced algorithms which help businesses to tackle all their problems successfully. Different departments within the organization can use the software to identify key areas of improvement, detect and prevent frauds, forecast, and perform various other useful tasks.
Features
Some of the key features of SAS Advanced Analytics include:
- Scripting
- Analysis
- Modeling
- Data Visualizations
- Data Interaction
- Data Mining
- Algorithms
- Report Generation
Technical Details
| API | No |
| Deployment | SaaS/Web/Cloud, On-Premise: Windows & Linux |
| Business Size | Small, Medium, Large Enterprises |
| Support | Phone, Online |
Key Benefits
Below are some of the key benefits of using this software:
- Access to high-quality forecasting solutions which enables organizations to perform activities like time series exploration, large-scale automatic forecasts, etc.
- The statistical tools provided by this platform can be used to analyze different types of data, such as sales numbers, supply chain operations, customer data, etc.
Pricing Plan
- Custom pricing
2. RapidMiner
RapidMiner is one of the best free predictive analytics software ideal for freelancers, startups, small businesses, and large enterprises. It is an end-to-end data analysis platform that uses machine learning, data visualization tools, 1,500+ algorithms, templates, etc., to offer strong predictive analytics. It provides a drag and drop interface which makes it easy for the users to quickly access and retrieve the data/reports they need. It is an amazing platform for extracting insights, detecting and preventing fraud, segregating and grouping customers, predicting equipment failure, etc. It is a user-friendly tool which is why many organizations depend on RapidMiner.
Features
Some of the key features of RapidMiner include:
- Predictive Analysis
- Sentiment Analysis
- Document Classification
- Import-Export Option
- Built-in Library
- Segmentation
- Geospatial Analysis
- Audience Analysis
- Collaboration Tools
- Machine Learning
- Statistical Analysis
- Process Modeling & Designing
- Fraud Detection
Technical Details
| API | Yes |
| Deployment | SaaS/Web/Cloud, Windows, Mac, On-Premise: Windows & Linux |
| Business Size | Freelancers, Startups, Small, Medium, Large Enterprises |
| Support | Phone, Chat, Email, Knowledge Base, FAQs/Forum |
Key Benefits
Below are a few of the key benefits of RapidMiner:
- RapidMiner offers more than 30 data visualization options using its strong chart engine; thus, allowing the user to format the data in their desirable format.
- RapidMiner comes with data cleansing features which can help businesses to detect and remove duplicate data, detect incorrect calculations, etc.
Pricing Plan
- RapidMiner Studio – Free
- RapidMiner Go – $10 per month
- RapidMiner Enterprise – Custom pricing
- RapidMiner Educational License Program – Custom pricing
3. IBM SPSS Modeler
The IBM Statistical Product and Service Solutions (SPSS) Modeler is an advanced statistical analysis platform that is capable of transforming the predictive analysis into graphic visuals. This is a great tool to identify patterns and any deviations in the data. The IBM SPSS Modeler is suitable for all types of businesses and assists businesses in making smart decisions. This top predictive analytics software supports open-source integration which means that you can use different programming languages to enhance your analytical projects.
Features
Below are some of the key features of the IBM SPSS Modeler:
- Scripting
- Data Mining
- Algorithms
- Analysis
- Data Interaction
- Modeling
- Data Visualizations
- Report Generation
- Model Training
- Feature Engineering
- Scalability
- Collaboration Tools
- Machine Learning
- Predictive Analytics
- Statistical Analysis
- Data Cleansing
- Dashboard
Technical Details
| API | No |
| Deployment | SaaS/Web/Cloud, Windows, Mac, Linux |
| Business Size | Medium, Large Enterprises |
| Support | Phone, Email, 24/7 (Live Rep) |
Key Benefits
Below are some of the key benefits of the IBM SPSS Modeler:
- One of the key benefits of this predictive analytics software is that it is scalable, which means that you can scale the platform up or down as per your business requirements. Its intuitive dashboard ensures that the users can perform the required tasks with ease and comfort.
- Another key advantage is that IBM SPSS Modeler offers open-source integrations, thus, allowing you to boost analytical projects as needed.
Pricing Plan
- Subscription – $499 per month
- Professional – Custom pricing
- Gold – Custom pricings
4. Alteryx
Alteryx is a pioneer in Analytic Process Automation (APA) and is useful in unifying analytics, data science, machine learning, and business process automation. The primary aim of Alteryx is to offer predictive analytics software that can be used by non-coders as well. Users have the option to choose from more than a hundred automation ‘building blocks’ which helps in handling unstructured data and turning it into actionable data insights. It is considered one of the best predictive analytics software for effective team collaboration. With Alteryx, users can gather data from multiple sources and generate unified reports as per their requirements.
Features
Here are some of the key features of Alteryx:
- Report Generation
- Data Connectivity
- Profiling and Classification
- Data Blending
- Data Modeling
- Data Sharing
- Integrations
- Data Workflows
- AI/Machine Learning
- Collaboration Tools
- Data Analysis Tools
- Data Mapping
- Data Extraction
- Data Security
- Interactive Dashboard
- Visual Analytics
Technical Details
| API | No |
| Deployment | SaaS/Web/Cloud, Windows, On-Premise: Linux |
| Business Size | Medium, Large Enterprises |
| Support | Phone, Email, Chat, Knowledge Base, Forums/FAQs |
Key Benefits
Some of the key benefits of Alteryx are:
- This predictive analytics software comes with an intuitive, drag-and-drop interface which makes it really easy to gather the required data and generate the reports.
- The scripting tools included in Alteryx can be used by the users to easily integrate any new data with their existing data.
Pricing Plan
- Alteryx Designer – $5,195/user/year
- Alteryx Server – Custom pricing
- Alteryx promote – Custom pricing
5. FICO Predictive Analytics
FICO Predictive Analytics is one of the best predictive analytics software that is suitable for all types of individuals. It contains all the major features and functionalities expected in predictive analytics software, such as data visualization tools, data preparation, analysis, etc. These tools can easily be customized to suit your business needs. Equipped with artificial intelligence and machine learning, FICO Predictive Analytics will aid you in gaining deep data insights across all your operational systems. The analytical tools in this software can work with structured as well as unstructured data and transform them into clear and concise reports.
Features
Some of the key features of FICO Predictive Analysis are:
- Analysis
- Data Interaction
- Modeling
- Data Visualizations
- Report Generation
Technical Details
| API | No |
| Deployment | SaaS/Web/Cloud |
| Business Size | Small, Medium, Large Enterprises |
| Support | Online, 24/7 (Live Rep) |
Key Benefits
Below are some of the key benefits of FICO Predictive Analytics:
- This predictive analytics software comes equipped with a scorecard technology which helps in generative predictive scores that can be easily understood by the users.
- This software offers a neural network which in combination with the customer profiling techniques helps in identifying and preventing fraud.
Pricing Plan
- Custom pricing
6. Azure Machine Learning Studio
Azure Machine Learning Studio by Microsoft is a simple, scalable, interactive programming tool useful for predictive analytics. It is capable of sourcing data from multiple sources and transforming them into interpretable reports using data science and cloud-based tools. This is a great predictive analytics software, especially for startups and small-sized businesses. You can use the platform to build, deploy, and share the predictive analytics solutions – all with the help of just a few clicks! This trusted and secure platform helps in the faster building and deployment of enterprise-grade machine learning services.
Features
Some of the key features of Azure Machine Learning Studio are:
- Access Control
- Labeling
- Predictive Modeling
- Model Training
- Language Support
- Drag and Drop
- Pre-built Algorithms
- Artificial Neural Networks
- Natural Language Processing
- Natural Language Generation
- Managed Service
- Scalability
Technical Details
| API | Yes |
| Deployment | SaaS/Web/Cloud, Windows |
| Business Size | Small, Medium, Large Enterprises |
| Support | Chat |
Key Benefits
Below are some of the key features of Azure Machine Learning Studio:
- This predictive analytics software is accessible via the web which means that you can access it at any time without worrying about installing the program on any of your devices.
- This software is one of the best predictive analytics software for amateurs as it does not require you to possess any coding skills. Its drag and drop authoring environment ensures that you can use the platform without any hassle.
Pricing Plan
- Custom pricing
Conclusion
Data is an integral part of every organization and it is vital that all the data is used in the right way to ensure the growth and success of the business. Predictive analytics software can help you to not only gather your data from multiple sources but also analyze it and present it in an easy-to-understand and decipher format. We recommend you give these six top predictive analytics software a try and narrow it down to any one of them that best matches your business data and requirements.
You can also find information about other useful software on SaaSworthy – a repository of more than 40,000 software across 300 different categories!
Also read:
