The Best Predictive Analytics Tools

Predictive analytics tools are digging through data sets to show companies the golden path to the future. We have put together the best options for you.

Best Predictive Analytics Tools
Looking to the future with Predictive analytics? Photo: wavebreakmedia – shutterstock.com

Over the past few decades, computers have shifted from filing cabinets for data to technological crystal spheres. This approach promise to predict the future by analyzing data. The tools that do this fall under the term Predictive Analytics and essentially perform two functions:

  • The analysis of databases or stocks in order to derive recommendations for action for the future
  • and the preparation of the analytical data, which in the rarest cases have the required consistency.

The latter feature includes both uncomplicated tasks such as formatting unification, as well as the often time-consuming elimination of errors. Maintaining data integrity is often a real challenge. Sophisticated predictive analytics tools meet both requirements from the FF. We’ve put together 15 of the most popular Predictive Analytics Tools for you.

Alteryx

In recent years, Alteryx has focused on Workflow management platform with predictive algorithms. The tool has a wide library as well as numerous interfaces for data import. It also supports a variety of common and less common data sources.

The Alteryx tool is versatile and more designed for managers with data know-how. It is not for developers who want to delve deeper into the predictive analytics matter and connect it widely with reporting and business intelligence. In addition, Alteryx also offers specific solutions for specialist departments, such as marketing or research.

Amazon Web Services

The AWS Toolset for examining data streams for signals or patterns continues to grow. The offers are traditionally separated by product line. For example, Amazon Forecast focuses on expanding economic time series to predict what sales are expected for the next quarter. They also predict that how many resources will be needed to meet demand. Amazon Code Guru, on the other hand, looks for uncertainties within source code to improve operations.

Some AWS tools, such as Fraud Detector or Personalize, primarily support Amazon’s business itself. But these are now being resold to other companies that want to create their own e-commerce empire.

Board

It is for Companies those want to continue to rely on dashboards to visualize data trends in a summary. The tool makes it possible to tap a variety of data silos(ERP,SQL, etc.). It analyze the information stored there and output the results in the form of a report. It provides information about both the business past and the future (predictive).

The focus is on summarizing data from as many sources as possible. The other focus is to present it into a standardized form. Visualization or predictive analytics can directly used it.

Dash

The Dash toolset comes in a free open source version and enterprise version. It enables cloud-based management of predictive analytics models. These are either already in use or are being developed.

The open-source version brings Python libraries for data analysis and visualization. The enterprise version comes with additional tools. These are Kubernetes, authentication, or the integration of GPUs in deployments for large user groups. The paid version also offers users more low-code extensions to create dashboards and other interfaces.

Databricks

The Databricks toolset builds on the four authoritative open source frameworks. These four are Apache Spark, Delta Lake, TensorFlow, and ML Flow and is suitable for organizations with large data assets. The package also includes collaborative notebooks and Data Processing Pipelines. Its helps to integrate predictive analytics into workflows in the best possible way. Databricks has also already launched built-in versions of its aws and Azure toolset.

DataRobot

Best for Companies that value the option to store their predictive analytics models. They can store in local hardware, Cloud or a hybrid solution. They can manage their data and models with Data Robot. The tools combine automated machine learning with a range of industry-focused routines.

IBM

IBM’s Predictive Analytics Toolset comes from two different branches. SPSS founded in the 1960s. It has become the foundation for many companies that wanted to optimize their production lines with the help of statistics. The punch card era has long since left the tool behind. Meanwhile, non-programmers can drag and drop data into a graphical user interface to generate detailed reporting. IBM had acquired SPSS in the summer of 2019 for about 1.2 billion dollars.

Under the umbrella of the Watson brand, IBM is gathering another Analytics Toolset. This tool is constantly expanding. Watson’s predictive analytics tools are largely based on iterative machine learning algorithms. It has capability to train data and train data models. The tools are able to process numbers, images or unstructured text.

Information Builders

Information Builders’ data platform enables Data Architects to create a visual pipeline. Which collects, cleans up, and then “throws” into the Analytics Engine. There is the option to “Full Data Governance Models”, in addition, specific templates for individual industries such as the industry are available, which should provide users with particularly fast insights into data secrets.

Mathworks

With its MATLAB solution, Math Works originally wanted to support scientists in research with large amounts of data. In the meantime, however, MATLAB has mastered much more than just numerical analysis of data. The product line now focuses on optimizing statistical analyses. Simulation and modeling purposes can be done through SIMULINK product group. In addition, the company also offers special toolboxes for many individual markets, such as autonomous mobility or image processing.

Python

Python is now one of the most popular programming languages. It is also one of the most popular languages for data analysis in the field of science. Many research institutions use Python code to analyze their data. Data scientists have now bundled the data and analytical code into the Jupyter Notebook app. Python tools such as PyCharm, Spyder or IDLE bring new, innovative approaches into play. These tools often require some fine-tuning and are therefore primarily suitable for data scientists and software developers.

R

Technically, R is just an open-source programming language for data analysis that comes from much of the academic community. The built-in Tools R Studio, Radiant or Visual Studio are good in quality. It is good for hardcore data scientists and programmers. If you are looking for up-to-date community ideas for experimentation, you will surely find what you are looking for here. Many of the tools listed in this article allow the integration of R-code in the form of modules.

Rapid Miner

Rapid Miner has great design .It automatically create predictive data models without assistance in the shortest possible time. The developers also offer Jupyter notebooks with “automated selection” and “guided Data preparation”. The available models are based on principles such as classic machine learning, Bayean statistics or various forms of clustering. Explanations for the individual models indicate how exactly the models derive their results.

Sap

Many companies rely on SAP to manage their supply chains. It is a good thing that the reporting tools of The Walldorfer now also support predictive analytics. For example, machine learning models can be predicted based on “old” data. AI capabilities brings the software, which is either locally on-premises or in the Cloud can run, also with. Specific user interfaces with cross-disciplinary consistency and the pronounced possibilities on mobile devices round off SAP’s predictive analytics package.

SAS Advanced Analytics

SAS’s Predictive Analytics Toolset bundles nearly two dozen different packages. It is based on platform that turns data into both insights and predictions. The focus of the SAS toolset is on the analysis of unstructured texts.

Tableau

Tableau has made a name for itself with its almost artful processing of reporting information. Salesforce acquired it last year. Now Tableau can use Dashboards with the help of an embedded analytics model. It interactively educate themselves about the results of data analysis.

This article is based on an article in our US sister publication cio.com.

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