Predictive Analytics Software
Predictive
analytics makes use of statistical tools like data mining, predictive
modelling, artificial intelligence, and machine learning, thereby assisting companies
to determine the data patterns and predict future trends and outcomes, and take
informed business decisions. It is mainly used in domains, such as financial
analytics, risk analytics, marketing analytics, sales analytics, customer
analytics, web and social media analytics, supply chain analytics, and network
analytics. The global predictive analytics market is witnessing huge growth,
owing to the emergence of new applications and technologies, increasing focus
on competitive intelligence, and use of analytics to determine future scenario
and customers’ needs and behavior. In addition, increasing adoption of cloud
technologies are expected to create abundant opportunities in the market over
the next few years.
IBM tops the
enterprise segment in a ranking based on product scores, strategy, use-cases,
investments, and business outcomes
In a recent
assessment released by 360Quadrants, IBM topped the list of vendors in the predictive analytics software space, followed
closely by Oracle and SAP SE, while NTT Data Corporation was listed as a
dynamic differentiator. IBM’s SPSS Modeler was rated as the best in product
quality, reliability, and breadth and depth of offering. IBM SPSS Modeler also secured
the top spot in criteria like geographic footprint and viability of business.
360Quadrants
defines predictive analytics as a statistical and data mining solution, comprising
various algorithms and methodologies used for structured as well as
unstructured data in order to gather business insights. Covering more than 50 vendors in the best predictive analytics software space, 360Quadrants places the top 25
vendors in a quadrant depending on their quality, reliability, and business strategies.
Competitive Leadership Scenario
360Quadrants recognizes the top 25 predictive
analytics software vendors, which have
been categorized into Visionary Leaders, Innovators, Emerging Companies,
and Dynamic Differentiators based on their performance and predictive
analytics software reviews.
IBM Corp,
SAS Institute, Inc., SAP SE, Fair Issac Corporation (FICO), Tableau Software,
Inc., RapidMiner, Inc., Oracle Corp, and Angoss Software Corp as Visionary Leaders, mainly because of
their established product portfolios and strong market presence.
TIBCO
Software, Inc., Microstrategy, Inc., Alteryx, Inc., Information Builder,
Dataiku, KNIME.COM AG, and NTT DATA Corporation, are listed as Innovators, since they have focused
portfolios and exhibit substantial product innovations.
GoodData
Corporation, Microsoft Corporation, Teradata Corporation, Sisense, Inc.,
Predixion Software, and Domino Data Lab, Inc. are recognized as Dynamic Differentiators in the
predictive analytics space, since they are established vendors with strong
business strategies, but have less product offering.
Lastly, Exago, Inc.,
AgilOne, QlikTech International, and Kognitio Ltd., have been recognized as Emerging Players, mainly because they
specialize in offering highly niche solutions and services, but do not have
strong business strategies unlike other established vendors.