The current industrial world is looking to adopt cutting edge analytics to solve some of its biggest challenges. The analytics solutions and tools available in the market allow organizations from across industries to be proactive in their strategy execution. With access to vast volumes of data sets, businesses can deep dive into them to have 360-degree visibility into the trends, opportunities, and challenges and gain a better picture of what lies ahead for them. Assessing the data in real-time, they can increase their bottom line and competitive advantage.
Industries, including financial services, healthcare, retail, oil and gas, government, and manufacturing, among others leverage predictive analytics to stay ahead of the challenges. From operations management to workforce efficiency to security, predictive analytics has a vital role to play in a growing number of business areas. Field service oriented industries such as supply chain and logistics can gain access to actionable data in real-time that allows them to drive customer experience and bottom line. Security management can be improved by many levels as organizations across industries view the activities transpiring in their networks at a more granular level. The firms can build the patterns of the events over a time period and preemptively block anomalous actors before they cause damage. They can also actively prevent advanced persistent threats and zero-day vulnerabilities from causing damage. Companies working with a bevy of supply chain partners can fill the knowledge and IT gaps and tackle the loopholes in the systems and the infrastructure by using predictive analytics.
Predictive analytics plays a crucial role in optimizing marketing campaigns too. With insights into customer purchase trends, organizations can promote products and enhance their upsell and cross-sell opportunities. The predictive models enable businesses to attract, retain, and increase their most profitable customers. They can also be used to forecast inventory and better manage resources, pricing, and customers engagement. Sales teams, in particular, can automate a number of mundane tasks that will allow them to focus on hot leads and achieve more conversions. HR team, on the other hand, can expedite the hiring process while lowering the total cost of hiring and training and bridging their talent gap.
Estimations reveal that the adoption of predictive analytics will grow at a brisk pace in the coming years. Businesses will continue to upgrade their data infrastructure for predictive analytics. As more data platforms emerge, and people continue to consume massive data in a multimedia format, the complexity of data analytics will only grow. In such a scenario, new-age technologies such as machine learning and artificial intelligence and the evolving algorithmic models will power the next generation of predictive analytics solutions.
To help CIOs navigate through the list of predictive analytics solution providers, our distinguished selection panel, comprising CEOs, CIOs and VCs, industry analysts and the editorial board of CIO Applications narrowed the top 25 predictive analytics solution providers that exhibit competence in providing robust predictive analytics solutions.
We present to you CIO Applications’s “Top 25 Predictive Analytics Solution Providers 2019”