10 Best Predictive Analytics Software Shortlist
Here's my pick of the 10 best software from the 18 tools reviewed.
With so many different predictive analytics software available, figuring out which is right for you is tough. You know you want to identify the likelihood of future business outcomes based on historical data but need to figure out which tool is best. I've got you! In this post I'll help make your choice easy, sharing my personal experiences using dozens of different predictive analytics tools with various teams and projects, with my picks of the best predictive analytics software.
What Is Predictive Analytics Software?
Predictive analytics software is a tool that analyzes historical and current data to forecast future events and trends. It uses statistical algorithms and machine learning techniques to identify patterns in data, helping to predict outcomes. This software processes large datasets to extract actionable insights and likely future trends.
The benefits of predictive analytics software include improved decision-making based on data-driven insights. It helps businesses anticipate future trends, customer behaviors, and potential risks, enabling proactive strategies. This leads to enhanced efficiency, better risk management, and the ability to seize new opportunities. In sectors like marketing, finance, and healthcare, it offers a significant advantage by providing foresight and guiding informed actions.
Overviews Of The 10 Best Predictive Analytics Software
Here’s a brief description of each predictive analytics software that showcases each vendor’s best use case, their noteworthy features, and some pros and cons. I’ve also included screenshots to give you a snapshot of their user interface too.
This analytics software is designed for the simplification and optimization of data mining processes through a suite of products that include RapidMiner Studio, Radoop, Server, and Streams. Features include batch processing, template library, and automated charts, as well.
One focus of RapidMiner is predictive maintenance that determines the lifetime of factory machines and components to help users predict repair and maintenance schedules. They paired cloud-based computing systems with intuitive machine learning tools to analyze data from the shop floor and keep a closer eye on equipment health.
RapidMiner provides solutions for small, medium, and large businesses across a number of industries, including utilities, automotive, communications, energy, manufacturing, logistics, and life sciences.
RapidMiner Standout Features and Integrations
Features include automated data science, real-time scoring, hybrid cloud deployment, visual analytics workflow, code-based data science, data engineering, model building, AI app building, and ML ops.
Integrations include Braincube, Clarkson Consulting, Google Cloud Platform, Hivecell, Hexware Technologies, Tableau Software, Qlik, and UI Path.
Pros and cons
Pros:
- Many support videos
- Easy to install
- Simplifies the user experience
Cons:
- Slow to update new algorithms
- Has a bit of a learning curve
Tableau offers a web and cloud-based platform with a variety of data tools that are designed to provide a data-driven experience to fit into your current strategy and workflow.
One of Tableau’s signature tools is their embedded analytics, which provide interactive analytical capabilities to help users increase product engagement and enhance customer satisfaction. This feature delivers rich content, data, and analytics that provide predictive data, forecasting analysis, and readable visuals to interpret what you’re seeing.
Tableau has solutions for businesses of all sizes, including freelancers as well as enterprise-grade organizations. They offer tools by industry, technology, and department so business leaders can pinpoint the features that best fit their needs.
Tableau Standout Features and Integrations
Features include data preparation and visualization, reports interface and dashboard, on-premise servers, cloud tools, desktop tools, auto modeling, data discovery, big data services, and collaboration tools.
Integrations include Amazon Athena, Amazon Redshift, Google Analytics, Google BigQuery, Hive, PostgreSQL, Salesforce, Snowflake, Splunk, and Vertica.
Pros and cons
Pros:
- Simplified user interface
- Data is very visually appealing
- Accessible through all devices
Cons:
- Large data sets are slow to collate
- Limited phone app capabilities
This open-source data science platform provides tools to help engineers and data scientists develop performant machine learning applications with Python. This platform also allows users to perform predictive modeling, visualize, publish, and share data, analyze financial time series, and handle Jupyter Notebooks.
Anaconda delivers the ability to code with what they claim is the world’s most trusted distribution for lightweight queries and AI solutions. They currently offer over 6,000 Python libraries, 2,000 interoperable R packages, and source-built, tamper-free solutions.
Because it’s an open-source data science platform, Anaconda provides solutions for academic institutions, government agencies, enterprises, and individuals. This platform offers tiered pricing that can provide solutions for businesses of all sizes, as well as students and teachers.
Anaconda Standout Features and Integrations
Features include basic repository, cloud-hosted notebooks and workspace storage, on-demand training courses, predictive analytics, and online payment functionality. Panel app deployments and data catalogs are coming soon.
Integrations include Azure Data Science Virtual Machines, Celebrus Customer, Celebrus Fraud, Datapell WMS, Domino Data Lab, Jovian, Kixie PowerCall, OpenSCAP, QuantRocket, and statsmodels.
Pros and cons
Pros:
- Flexible and robust platform
- Comprehensive onboarding and training
- Great community support
Cons:
- Slows down with large data sets
- A bit of a learning curve
Oracle Crystal Ball was designed to be the leading spreadsheet-based app for forecasting, predictive modeling, optimization, and simulation. Crystal Ball offers a complete suite of tools for uncertainty management to help businesses determine the best results while minimizing risk.
One of the unique features of Crystal Ball is that it offers a classroom edition for the academic community through a fully functional version designed for students and teachers. This product includes Crystal Ball Decision Optimizer to add optimization power for any classroom simulation. They offer both student and faculty editions.
Crystal Ball provides solutions for education, financial analysts, engineers, strategic planners, scientists, marketing managers, venture capitalists, and Six Sigma professionals. With tiered pricing for on-premise and cloud applications, Crystal Ball can be the right tool for businesses of all sizes.
Crystal Ball Standout Features and Integrations
Features include algorithms, data interactions, analysis, modeling, data unification, report generation, data visualizations, designed for Monte Carlo simulations, spreadsheet-based, time series forecasting, and optimization.
Integrations include Excel.
Pros and cons
Pros:
- Data visualization is easy to read
- Low barrier for entry
- User friendly interface
Cons:
- Excel add-on occasionally crashes
- Limited uncertainty data displays
This predictive analytics software provides the tools businesses need to explore crucial insights into what drives their operations. Used by over 2,000 companies globally, some of Board’s top customers use their end-to-end planning applications for comprehensive business performance.
One of the tools Board offers for better data analysis is the simulation feature, which allows users to run multiple scenarios at speed. With a simulation, data scientists may create models to reflect the results of decision making based on your business challenges to ensure you have more information about the effects of every choice.
Board offers solutions by department and by industry. They have targeted plans for finance, supply chain, sales performance management, and workforce planning departments, as well as opportunities to support retail, CPG, and professional services industries.
Board Standout Features and Integrations
Features include reporting interface, report generation, data visualization, big data services, dashboards, graphs and charts, score cards, self-service, data column filtering, collaboration tools, auto modeling, and simulation tools.
Integrations include Google Analytics 360, HubSpot CRM, Marketo Engage, Microsoft Office, Oracle On Demand, Salesforce Sales Cloud, SAP HANA Cloud, Service Max, SugarCRM, and Veeva CRM.
Pros and cons
Pros:
- Can handle large amounts of data
- All-in-one platform
- Easy to implement
Cons:
- No dynamic system maintenance
- Reporting alignment is tricky
Best for robust data visualization capabilities
With navigation, visualization, and analysis capabilities, SAS Advanced Analytics is designed to provide actionable insights with no coding, as well as versatile programming options with fourth-generation language abilities that support SQL, data visualization, and data mining. In addition to providing solutions for organizations like Honda, SAS has also been used to tackle human trafficking and public health needs.
SAS Advanced Analytics offers a number of statistical analysis features, including SAS Visual Forecasting Software that allows users to generate a massive variety of accurate forecasts very quickly. SAS claims this is a future-proof forecasting tool that helps you plan better by generating, visualizing, and deploying reliable forecasts at scale – with no human involvement.
This web-based predictive analysis tool offers solutions for businesses of all sizes. Some of their most popular use cases include marketing, risk management, fraud, and IoT in industries like banking, insurance, the public sector, retail, consumer goods, and life sciences.
SAS Advanced Analytics Standout Features and Integrations
Features include scripting statistical tools, data mining, algorithms, data analysis, data interactions, modeling, data visualizations, report generation, and knowledge base.
Integrations include SAS Integration Technologies for API integration.
Pros and cons
Pros:
- Similar to SQL
- Ease of use
- Free training
Cons:
- Limited pre-built module functionality
- Error messages aren’t always clear
This cloud-based data management tool is designed for analysts, data scientists, and developers with features that include AI lifecycle automation, automated data preparation, visual model development, automated feature engineering, hyperparameter optimization, predictive analytics, and decision optimization.
In addition to predictive analytics, IBM Watson Studio also offers prescriptive analytics that are designed to provide businesses with recommendations for optimal actions for specific business objectives. Once a user specifies their business needs, like customer satisfaction or cost savings, the prescriptive analytics help solve the most complex decisions with these constraints in mind.
IBM Watson Studio is designed to be as versatile as possible with free plans, as well as pay-as-you-go solutions. They also offer subscription services for optimal savings. Some of the industries in which this company specializes include sustainability, security, and infrastructure.
IBM Watson Studio Standout Features and Integrations
Features include data integrations suite for ETL, automation for financial and operational planning, IDE to build and run AI models, complex optimization model building, analytics engine that adapts to custom domains, and data warehouses.
Integrations include App Connect, Coveo, Facebook Messenger, Google Custom Search, HubSpot, Salesforce, Slack, Twilio Flex, WhatsApp, and Zendesk
Pros and cons
Pros:
- All-in-one analytics platform
- Integrates with open-source platforms, like Python
- Accurate and reliable models
Cons:
- Premium price point
- Slows down with large data sets
Qlik is a data science tool that’s useful for predictive analytics, as its software can quickly generate machine learning models and analyze a variety of what-if scenarios through a code-free user interface.
The main predictive analytics tool you’ll be using for data mining is a cloud-based solution called the Qlik AutoML, which provides a code-free way to conduct experiments and identify key drivers in your training models and data. Publish the data or integrate it into other dashboards for a more fully interactive analysis.
Qlik offers data integration and predictive analytics solutions for SMBs and enterprise-grade organizations through two tiered plan options. Enterprise solutions are completely customized for the needs of business users. Some industries they specialize in supporting include healthcare, retail, communications, life sciences, and energy and utilities.
Qlik Sense Standout Features and Integrations
Features include smart visualization and dashboard, phone app for Android and Apple, augmented analytics with advanced AI, flexible APIs and custom extensions, self-service analysis creation, and data change alerts.
Integrations include Amazon Web Services, Databricks, Google, Microsoft, Mongo DB, Rowshare, Smartsheet, Snowflake, SysAid, and TOPdesk.
Pros and cons
Pros:
- Tons of customization
- Quick to implement
- Easy to use
Cons:
- Limited navigation features
- Limited data modeling
Designed to power model-driven businesses, Domino offers a platform that can accelerate the development and deployment of data science, while simultaneously focusing on governance and increasing collaboration.
One of their most popular tools is a risk management solution that can provide a comprehensive approach to modeling risk management and considers regulations, including CCAR, GDPR, and SR 11-7. This tool also tracks documentation, history, and model inventories to ensure better syncing throughout the organization.
Domino provides solutions by role, industry, and use case to target organizational needs at every level. Find solutions for chief data and analytics executives, data science leaders, and IT leaders throughout the financial services, health and life sciences, and insurance sectors.
Domino Data Lab Standout Features and Integrations
Features include managing, developing, deploying, and monitoring models, managing users, tracking resource usage, updating system configurations, and creating environments.
Integrations include Accenture, Amazon, Anaconda, Azure, Google Cloud Platform, NVIDIA, Red Hat, Snowflake, Stata, and VMWare.
Pros and cons
Pros:
- Great customer support team
- UI and UX are intuitive
- Result-oriented platform
Cons:
- VPC installation takes awhile
- Documentation could be improved
As a global tech company, Altair provides data mining and analytics solutions for high levels of throughput. Their platform supports SAS language and macro syntax, as well as tools for statistics, operational research, machine learning, graphics, time series analytics, and output delivery.
One standout feature of the Altair platform is its ability to combine programming languages to ensure the best language for the job. Users can write data-centric applications, mixing syntax inside a single program. They also offer no-code tools to empower users to create and run models that will translate into SQL, R, Python, and SAS languages.
Altair is designed to provide solutions for businesses in all stages of development with customizable pricing that appeals to freelancers, small businesses, and large organizations alike. They offer solutions for aerospace and defense, energy, architecture and engineering, healthcare, industrial machinery, weather and climate, retail, and education industries.
Altair Standout Features and Integrations
Features include data analytics and AI tools, electronic system design, data joining and sharing, data modeling, breadth of data sources, data workflows, consolidation, data cleaning, and metadata management.
Integrations include Acrome, Amazon, Deltek, FactSet, GitHub, Google Cloud, Hewlett Packard Enterprise, Immersion Consulting, Intel, and Lenovo.
Pros and cons
Pros:
- Cost-effective solution
- Works with code and no-code preferences
- Easy setup options
Cons:
- Some limitations when working with SAS language
- Limited graphic visualizations
The Best Predictive Analytics Software Summary
| Tools | Price | |
|---|---|---|
| RapidMiner | Pricing upon request | Website |
| Tableau | From $70/user/month | Website |
| Anaconda | From $9/month | Website |
| Oracle Crystal Ball | Student and faculty pricing is $410 | Website |
| Board | Pricing available upon request | Website |
| SAS Advanced Analytics | From $0.55 units/hour | Website |
| IBM Watson Studio | Pricing upon request | Website |
| Qlik Sense | $30/user/month | Website |
| Domino Data Lab | Pricing upon request | Website |
| Altair | Pricing upon request | Website |
Compare Software Specs Side by Side
Use our comparison chart to review and evaluate software specs side-by-side.
Compare SoftwareOther Options
Here are a few more worthwhile options that didn’t make the best predictive analytics software list:
- KNIME
Best open-source predictive analytics platform for all types of businesses
- Alteryx
Best for all-in-one content, sales, customer, and project reporting and analysis
- Databricks
Best for unifying AI, data, and analytics all in one place
- DataRobot
Best library of open-source machine learning algorithms and techniques
- Tibco
Best for unlocking business potential with real-time data and analytics
- Adobe Analytics
Best marketing attribution tool for insights into customer interactions
- Dataiku
Best for learning how to utilize artificial intelligence in a self-service tool
- SAP Predictive Analytics
Best comprehensive predictive models in a business context
How I Selected the Best Predictive Analytics Software
With so many predictive analytics tools out there, you might be wondering how I chose these options to include on my list. To create the final selection of the top ten software options, I started aggregating all those analytics software with extremely high user ratings. After gathering these, I compared them to one another using various selection criteria.
Finally, I honed this list down to these best options by using my years of revenue operations experience to pinpoint all the features that added the most value and enhanced the analytics software for better business functionality.
Selection Criteria
Here’s a short summary of the main selection and evaluation criteria I used to develop my list of the best predictive analytics software for this article:
Usability
Whether you’re looking into historical data of sales to analyze customer behavior or hoping to find general trends in your niche, your predictive analytics software needs to be user-friendly and intuitive so your team can learn how to use this new tool and integrate it into your workflow as quickly and easily as possible.
Standout Features
From machine learning to data visualization, there are many features that enhance predictive analytics software to provide more insights and make it easier to use. I put together this list with standout features in mind that would add the most value to the tool and target the solutions you need for your business.
Software Integrations
Communication between tools is one standout feature you can’t do without. How else will you put your new insights to good use without wasting time, money, or energy. I chose predictive analytics software that would integrate with the most-used digital business tools to streamline changes based on analytics to your workflow and strategy.
Pricing
With so many types and sizes of businesses out there, it’s impossible to find a one-size solution for predictive analytics. This list includes various price points to cater to as many business styles as possible with a focus on value-added features, scalability, and customization.
People Also Ask
If you’re considering predictive analytics tools, there are a few basics to keep in mind before committing to any one software. Check out these frequently asked questions to get a handle on what you should expect.
What is predictive analytics software?
Wondering what is business intelligence, or what is predictive analytics software? Then, you’re basically looking for one answer — getting more information to make better decisions. This type of software mines and analyzes the historical data you provide it to predict the most likely future outcomes. As it extracts more and more information from your data sets, it can better determine patterns and trends to inform future decisions.
What are the benefits of predictive analytics software?
The best business intelligence software provides a number of essential enhancements to your business operations, including:
- Improve customer retention by identifying pain points and other signs of discontent your customers may exhibit to address them and prevent them from leaving. Studies show that attracting new customers is more expensive than maintaining the loyalty of existing customers so retention is key.
- Enhance decision-making with more data about your profitable customers and find the best way to communicate with them. Social engagement and buying patterns can all recommend the best times and channels to communicate with different customer segments.
- Perform predictive maintenance in asset-intensive verticals using IoT sensors with predictive analytics. With this tool, you can predict and plan when maintenance will be necessary to manage expenses, place equipment orders in advance, and control all costs associated with maintenance.
Other benefits include better security, risk reduction, and operational efficiency.
What are the key features of predictive analytics software?
Wondering about the must-haves for the best sales reporting software and analytics tools? The highest rated key features of predictive analytics software include:
- Management tools that include monitoring, model registry, and governing.
- Response tools with customization, drip sequences, and routing to humans.
- Data sync and export that easily integrate with other essential digital tools.
- Workflow automation and application automation.
Other Sales Intelligence & Analytics Software Reviews
Here are some other software options you might want to consider.
- Best Sales Software
- Data Visualization Software
- Sales Forecasting Software
- Business Intelligence Software
- Sales Reporting Software
- Sales Intelligence Software
- Revenue Management Systems
- KPI Software
- Sales Tracking Software
Conclusion
Predictive analytics software could be the key to outshining your competitors and making intelligent market moves. If you’re interested in other resources that can ensure data-driven decision-making for your business, explore a few of these articles from the team:
- Revenue Intelligence: The Data First Approach
- 12 Best Data Visualization Software In 2023
- What is Sales Forecasting? Your Key to Informed Decisions
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