Predictive Analytics Software
Predictive analytics software is used to analyze data warehouses and other types of information stores to understand non-intuitive relationships. Predictive analytics software is clearly one of the most important ways of understanding data using algorithms and technology and predictive analytics software has been used in large companies for a long time, but it is only recently that predictive analytics software has become simple enough to use for smaller organizations without PhD level statisticians and technicians.
Predictive analytics software and the Small Business
There are only a few predictive analytics software vendors who have created tools that are easy to use and can be run from a desktop PC or laptop without needing any complicated server installs. However, most of these predictive analytics software companies are unable to process enterprise grade databases at the same time as dealing easily with spreadsheets. Most of the time predictive analytics software is too complicated to use for organizations without significant resources. The use of predictive analytics software has therefore been restricted to organizations with the resources to hire and train persons specifically for predictive analytics software tasks.
Growth of Predictive analytics software
The predictive analytics software from EMANIO is unique in that it provides a very simple user interface, while maintaining the power of enterprise grade predictive analytics software suites. The combination of the predictive analytics software being very easy to install and learn, provides business analysts who need a more advanced tool than spreadsheets the ability to do data mining and use predictive logic to identify patterns.
A New Way for Predictive analytics software
Organizations are collecting increasing amounts of data, and predictive analytics software is one of the most important tools that companies can use to gain actionable information from this data. Data, and the utilization and management of it, are increasingly becoming areas of competitive advantage; predictive analytics software and technologies are crucial to being able to take data and use it in a strategic fashion. Use of predictive analytics software, therefore, is one of the core technologies that companies are moving towards to be able to compete strategically in the market. In fact, consumer companies such as Procter & Gamble, AT&T, Wal-Mart, and others are using predictive analytics software to enhance their businesses. Predictive analytics software is essential to their ability to see patterns in their mountains of data.
Getting Started with Predictive analytics software
Most potential users of predictive analytics software are persons who need to do some level of predictive analytics to perform a task, such as using predictive analytics software to target a marketing campaign, parse supply chain risk, or deal with research data. For these people, having easy to use and powerful predictive analytics software is paramount; they have too little time in which to learn to use the predictive analytics software, and they need to deliver reliable and cogent results based on the predictive analytics software calculations. Being able to use predictive analytics software is a good way for many businesses to predict risk, identify areas where efficiencies can be improved and develop offerings.
Predictive analytics software can be used to move
a company from being purely reactive to the business environment, or to be proactive in dealing with issues before they come up. Often predictive analytics software is used to identify revenue streams that are potential for growth, and those that are likely to decline. In fact, many Controllers and persons in accounts receivable departments in companies use predictive analytics software to identify the likelihood of customers being good payers, and the predictive analytics software shows in what timeframe they are likely to pay. This is just one of the areas where predictive analytics software is an advantage.