Data on its own is almost meaningless. But with the right predictive analytics solution at the heart of data allows business to analyze and take control of data, a valuable way to unleash the hidden business insights. At its core, predictive analytics is the idea of using a combination of data, statistical algorithms and machine learning techniques to put organizations in a better position to identify future outcomes based on historical information. Any industry can leverage predictive analytics to reduce risks, optimize operations and increase revenue.
Banking and financial services industry with a massive amount of data and money has long embraced predictive analytics to detect and reduce fraud, measure credit risk, maximize cross-sell opportunities and retain valuable customers. Healthcare industry is leveraging it in identifying claims fraud and in medication. The technology and practices around predictive analytics are also evolving. Cloud-based prediction tools proactively addressing the storage issues, self-building predictive models are some evolving trends among them.
Fortunately, there is a growth in the number of predictive analytics solutions driven by the competitive pressure to maximize business process efficiency using data. The challenge of choosing the right companies arises with this bewildering number of solution providers available in the domain. Evaluating potential companies along with required dimensions will dramatically enhance the likelihood of selecting the best one.
To help companies embrace the developments in analytics by selecting the right provider in the market, CIO Applications has come up with an edition on predictive analytics. Our distinguished selection panel, comprising CEOs, CIOs, VCs, industry analysts and the editorial board of CIO Applications has shortlisted some of the most valuable predictive analytics solutions for business to stay ahead of their competitors.
We present to you with CIO Applications' "Top 10 Predictive Analytics Solutions-2018".