4 Machine Learning Platforms for Effective Predictive Analytics - PowerPoint PPT Presentation

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4 Machine Learning Platforms for Effective Predictive Analytics

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The technology allows businesses to create several models such as predictive analytics and prescriptive analytics. However, the major challenge that every organization has to consider is which machine learning platform will be the best for their business? – PowerPoint PPT presentation

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Title: 4 Machine Learning Platforms for Effective Predictive Analytics


1
4 Machine Learning Platforms for Effective
Predictive Analytics
With every passing year, the technology sector
experiences the influx of a new buzzword. With
this growing influx, tech leaders across the
globe must keep their businesses ready to adapt
and improvise their existing environment to cope
up with evolving technology. One such technology
that is revolutionizing the business world is
machine learning. The technology allows
businesses to create several models such as
predictive analytics and prescriptive analytics.
However, the major challenge that every
organization must consider is which machine
learning platform will be the best for their
business? So, lets have a look Predictive
Analytics at the Forefront of Business
Growth Today almost every organization looks for
predictive analytics capabilities. This results
in the growing interest in technologies such as
Big Data and artificial intelligence. According
to some surveys, approximately 90 of companies
believe predictive analytics is an essential
asset for their business growth. However, there
are only a few respondents who have put
predictive analytics to the implementation. So
how has predictive analytics become so
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  • demanding? What are the advantages it offers to
    your business? And what are the best predictive
    analytics tools that can help your business stay
    ahead of the competition?
  • Now lets have a look at some of the machine
    learning platforms that can help organizations
  • to have effective predictive analytics for their
    business.
  • RapidMiner Studio
  • RapidMiner delivers a unique combination of data
    analytics and custom business development. The
    tool is known as code-optional businesses can
    perform their task quickly with reusable codes.
    The essential feature of this predictive
    analytics tool is that it allows the
    organizations to automate the reporting process
    based on time, or channels, which can be
    triggered using a user-friendly dashboard. The
    tool enables businesses to import their data
    sets to the existing environment and export the
    same data sets to other programs using its 60
    native integrations.
  • Databricks Machine Learning Runtime
  • Databricks MLFlow is an open-source machine
    learning platform that allows organizations to
    monitor and manage the entire machine learning
    lifecycles. The platform allows the
    organizations to run experiments with any ML
    library, framework, or language, and
    automatically keep track of parameters, metrics,
    code, and models from each experiment. Moreover,
    it also allows businesses to discover, and move
    the machine learning models such as predictive
    analytics from experimenting to online testing
    and production.
  • Microsoft Azure Machine Learning
  • Azure Machine Learning is a cloud platform that
    allows developers to build, train, and deploy AI
    and predictive analytics models. Microsoft is
    persistently making improvements to its machine
    learning platform to allow the platform to add
    new functionalities and features. The company
    has recently announced changes to Azure Machine
    Learning. These changes include, open data sets,
    improved visual interface, automated ML-UX, and
    Data Box with FPGA.
  • Jupyter Notebook
  • Jupyter notebook is one of the most extensively
    used open-source machine learning platforms
    globally. The platform provides speed and
    accuracy in terms of processing and data
    monitoring. Since the platform supports three
    languages viz. Julia, Python, and R, it becomes
    easy for data scientists to create predictive
    analytics models from the data collected from
    various sources. Moreover, the platform allows
    the users to store and share live codes in the
    form of notebooks.
  • Lets have a look at the questions mentioned
    above.

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  • Client Success Story
  • How we improved clients lead acquisition and
  • conversion rate with AI?
  • Download Now
  • How Predictive Analytics Has Become a
    Must-to-Have Functionality for Organizations?
  • According to a report by Allied Market Research,
    the predictive analytics market was estimated to
    be around US 7.32 billion in 2019. This market
    is projected to surpass the value of US 35.45
    billion by the end of 2027. The report also
    states that the market is projected to witness a
    21.9 CAGR during the forecast period of 2020 to
    2027. The markets growth is the attribute of
    raising awareness of the large data volume
    amongst the organizations. Moreover, the race of
    gathering, processing, and monitoring the data to
    deduce a sustainable outcome for the customer
    has led to the growth in the demand for
    predictive analytics in various organizations.
  • What are the Advantages of Using Predictive
    Analytics?
  • Avoids Customer Rotation and Reduce Customer
    Churn
  • Predictive analytics allows organizations to
    create customer segments about loss risks. The
    segment includes both major and minor risks. Once
    the segments are made, the data engineers can
    apply corrective actions promptly that can reduce
    the dissatisfaction among the customers and
    further diminish the risk of customer churn.
  • Better Campaign Planning
  • The predictive analytics solutions allow the
    organizations to analyze the behavior, pattern,
    interactions, and web browsing of the customers.
    This allows the businesses to develop an
    actionable plan that helps them to attract more
    prospects. Moreover, the solutions also enable
    the companies to define the best time and channel
    to communicate with the customers, enhancing
    their campaigns effectiveness.
  • Improved Sales Probability

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customers in different mediums efficiently.
Predictive analytics suggests practical ways to
attract customers and develop sales plans
according to their purchase patterns. 4.
Personalized Services Long gone are the days
when the one-size-fits-for-all approach worked
for the businesses. Today, customers are looking
for companies that can offer services that are
oriented towards their requirements. Predictive
analytics and other data platform management
services allow companies to gather information
about their customers expectations. This will
enable them to treat their customers uniquely,
providing a personalized customer experience.
This, as a result, helps the businesses to
generate better leads and gain more profit. To
Sum Up The businesses have transformed their
operations from old brick and mortars to digital
landscapes. They are using new techniques and
technologies that can attract more customers to
their business. To achieve this task, the
organizations implement predictive analytics to
their operations to gain a competitive edge over
their competitors. If you are looking for
someone who can help you formulate an effective
strategy for predictive analytics, we can help.
Connect with us.
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