Today, data is everywhere, as every activity from picking up an item from a retail shelf to launching rockets into space generates data. The beauty lies not in the process of data generation but to gather such data, look for patterns and anomalies, and predict the future. Predictive analytics tools have advanced to such a level that it can easily outperform humans in accurately predicting and forecasting the future. Predictive analytics is a vital tool for business managers as the predictions help the managers to be well-prepared for future events. Predictive analytics along with automation opens up endless possibilities to exponentially increase business productivity. Vendors in this market have been harnessing the power of predictive analytics to help companies with customer intelligence, financial intelligence, decision support system, data mining, and fraud and security intelligence.
Here are the most prominent vendors in the predictive analytics market:
SAP is a market leader in enterprise application software space, creating a revolution in modern-day business and technology. The company headquartered in Walldorf, Baden-Württemberg, has over 335,000 customers, generating revenues over US$24 billion. Mercedes, Aviva, and Vodafone are amongst the key clientele of SAP SE. SAP predictive analytics provides functional capabilities ranging from automated analytics, model management, data manager, predictive scoring, social and recommendation, and advanced visualization.
SAS Institute is the world’s largest privately held software business, providing solutions to most of the Fortune 500 companies. The American multinational developer of analytics software excels in legacy system integration, machine learning techniques, and model monitoring. SAS Institute provides its services to clients such as The Royal Bank of Scotland, Aegon N.V., and BGF Industries. The company uses data, statistical algorithms and machine learning techniques to predict future outcome based on historical data.
The technology giant IBM has made a tremendous leap from hardware-based to a software-based company. In 2016, IBM’s AlphaGo achieved a remarkable feat by beating world champion Lee Sedol in Go, one of the most complex board games in human history. With over 105 years of industry experience, IBM has been serving clients like Metro Bank, DVB Bank, and NorthStar Anesthesia P.A. The company offers services in predictive analytics, prescriptive analytics, and machine learning with products such as IBM SPSS Statistics, IBM SPSS Modeler, Amos, and Predictive Analytics Enterprise.
Tableau Software Inc.
Tableau Software is an American company which produces interactive data visualization products focused on business intelligence. The company has been showered with many accolades and awards for excelling in providing data visualization solutions. LinkedIn, VISA, Skyscanner Ltd, and many other companies use the data visualization tools from Tableau Software. The software provides wide range of analytical tools including cohort analysis, what-if analsis, R integration, and sophisticated calculations.
Fair Isaac Corporation
Fair Isaac Corporation or FICO, is a data analytics company based in San Jose, California, that pioneered the FICO score, a measure of consumer credit risk. A majority of the lenders use FICO score to determine credit risk based on information kept by credit bureau on individuals. With over 60 years of experience in the industry, it boasts a strong client base of Southwest Airlines, Toyota, and Cabot Credit Management. It helps sharpen predictive modeling precision with products such as CECL Impairment Management, Model Management, Centralized Decision Service, and Optimization in Manufacturing.
Read more about top vendors in the predictive analytics market along with supply market landscape, advanced analytics, machine learning, procurement market intelligence, pricing strategies, cost modeling, and procurement insights in SpendEdge’s upcoming procurement report on the predictive analytics market.
Preview of Global Predictive Analytics Market – Procurement Market Research Report