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Best Predictive Analytics Software 2021 • Predictive Analytics Software Reviews

Predictive analytics software are tools that use data mining, statistics, modeling, machine learning and artificial intelligence to make predictions about the future from historical and real-time data. However, as a rule, no real prediction of the future is made, but only a probability distribution of the possible outcomes of a situation.

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What is a Predictive Analytics Software?

A predictive analytics software can be applied to many different things, such as social media marketing to find the best content and the best time to post it. This software can also be used in finance to predict credit scores or detect fraud early. Even in healthcare, the software can be used to detect diseases and their symptoms early. Especially in production and sales, predictive analytics software is used a lot to detect increased demand early, to find personnel gaps and to better plan logistics. Also, in retail, the software is used to create customer profiles to find out how likely certain people are to make a purchase, what the main customer group is, and to calculate how well marketing campaigns can work.

Most of the time, predictive analytics tools are included or a part of buisiness intelligence software. The other BI tools help to process, understand and visualize the data. But also real-time queries are possible, e.g. to determine whether a server is particularly busy due to external influences or whether a botnet is attacking the server. Also targeted warnings as soon as a parameter is reached are often possible.

The BI/Predicitive Analytics software is almost always available via a subscription system, with free trials to try out the software in your own company. Freeware is also available, but is often limited in functionality or requires advanced computer science skills to use these tools successfully.
The software is mostly usable on almost all platforms and can be made usable for all platforms through the often given API implementation, with the help of self-written software.

There is also predictive analytics software for every company size and data volume. There are also suitable offers for companies without large IT or servers.
Most predictive analytics software vendors offer a knowledge base with webinars for training, but face-to-face training is often available as well.

Leading Predictive Analytics Softwares

In the following product descriptions you will gain more insights into the introduced predictive analytics softwares.

Tibico Spotfire

TIBCO Spotfire is an analytics software that enables users to analyze and visualize their historical and real-time data without extensive IT knowledge. Using the Spotfire Mods framework, users can easily customize the software according to their needs and application. With TIBCO Spotfire, you can do everything from simple dashboards and visualizations to complex predictive analytics in an environment written in R and Python. Through provided online webinars, videos and wiki articles, users can constantly learn and improve their use of the software. TIBCO Spotfire is therefore also suitable for inexperienced users, but is still able to meet the demands of experts. The software can therefore also be used in companies of any size.

RapidMiner

RapidMiner is an analysis platform that uses data modeling and machine learning to create predictive analyses. The drag and drop interface allows RapidMiner to be used effectively even by users without any coding experience. Besides a libary of over 1500 algorithms, there are also templates for monitoring e.g. customer drive or upcoming maintenance. Also the data visualization is easy to design and meaningful. You only need experience with coding when tweaking parameters, which is still relatively easy due to the extensive documentation of the processes. But if someone still has difficulties with RapidMiner, there are countless tutorials and blogs on the official website.

SAP Analytics Cloud

SAP Analytics Cloud is a BI and data visualization tool that uses AI to help with business planning and forecasting. No programming knowledge is required to use the tool. SAP Analytics Cloud can use NLP to provide very broad insights into the target audience, their interests and their needs. This allows companies to create highly targeted and personalized experiences for their customers. Thanks to its ease of use and numerous learning resources, SAP Analytics Cloud is also suitable for inexperienced users and companies of all sizes.

Qlik Sense

Qlik Sense is a very comprehensive business intelligence software that allows companies of all sizes to analyze data in a particularly easy and intuitive way. Through the AI implementation, the tool suggests various process improvement ideas to the user and can also create advanced real-time and predictive analytics. Through drag and drop, it is possible to easily visualize data and create your own analytic apps. Thanks to the set of open APIs, it is possible to quickly and easily write your own applications with predictive calculations from third party data science tools. Qlik Sense also offers extensive material for learning and training in the use of the software.

Tableau

Tableau is one of the most popular and widely used BI tools on the market. It offers a wide range of features, but is still very easy to use. The data visualization, just like the ad-hoc functions and predictive analytics tools, is very comprehensive and meaningful. Tableau is also able to bring data from different sources into one dashboard, which is a very useful feature. It is also one of the easiest BI tools to learn, despite the huge feature set.

Board

BOARD is a well-known BI software that makes it easy to transform data into actionable information without the help of IT. BOARD offers a wide range of functions to quickly and easily write an analytical application using drag and drop, with a wide range of visual possibilities. Data preparation is mainly self-service, which makes the software particularly easy to use, even without knowledge of coding or information technology. For training, BOARD offers a wide range of materials and even personal training. Moreover, the tool is usable on all platforms.

Alteryx

Alteryx is a BI tool designed specifically for non coders. It has a unique system where the user can merge “blocks” to create and automate their own analytical process. This requires no knowledge of coding and is very intuitive and simple. As a result, predictive and statistical models can be created in a very short time without losing depth or efficiency. Alteryx can also process unstructured data easily and is able to do sentiment analysis on raw data. The tool is particularly suitable for large companies and teamwork.

DataRobot

DataRobot is a tool for data scientists to quickly and effectively build machine learning models and develop AI applications for predictive analysis. A large library of open source algorithms is available for this purpose. In addition, the tool has a function to create one-line API code with the click of a button, which can be a huge time saver when implementing models. DataRobot is a particularly useful tool for marketing purposes and is suitable for any size of company. It also offers a large number of learning resources to help you learn to use the software effectively.

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