Advanced and Predictive Analytics (APA) Market Study Findings
The recent report ranked vendors in the market based on five criteria: core advanced and predictive features, data preparation, scalability, usability, and integration. Out of the 17 APA vendors who qualified after achieving a minimum score, SAP was ranked in the top three solutions. Other top vendors included TIBCO Software, RapidMiner, SAS, and Information Builders.
The market study consisted of several extensive analyses of APA software based on factors like user base, perceived importance, deployment, and adoption plans of advanced and predictive analytics software. These were then further broken down based on geography, industry, function, and organization size to give a complete in-depth guide on the success of APA across various scopes.
The research findings show that the majority of respondents see a critical importance for advanced and predictive analytics in their organization. Howard Dresner, founder and chief research officer of Dresner Advisory Services, stated that, “Despite a mild decline in 2017, importance sentiment (the perceived criticality of advanced and predictive analytics) is on an uptrend across the five years of our study.”
This means that more companies today are learning about the abundance of benefits APA provides, from better understanding consumer behaviours to enhancing core business capabilities. The most often reported users who view this critical importance of advanced and predictive analytics are business intelligence experts, business analysts, and statisticians/data scientists. The report also reveals that:
“Organizations that say they are ‘completely successful’ with business intelligence are most likely (37%) to be current users of advanced and predictive analytics.”
In addition, advanced and predictive analytics rank seventh overall in technologies and initiatives that are strategic to business intelligence. Dashboards, reporting, advanced visualization, and end-user self-service top the list. And this is where the power of SAP Analytics Smart Predict comes into play.
SAP Analytics Cloud Smart Predict
With this growing critical importance for advanced and predictive analytics, we’re continuously creating new features for SAP Analytics Cloud to provide businesses with the solutions they need. One of the latest features we’ve added is Smart Predict.
Smart Predict is a self-service solution that supports data ingestion, predictive model authoring, and model management in SAP Analytics Cloud. Even without expert knowledge, Smart Predict makes answering business questions with predictive analytics simple, using transparent, easy to understand, and trustworthy results.
We here at SAP are dedicated to creating tools that help businesses grow. The predictive analytics, advanced visualizations, and self-service capabilities within SAP Analytics Cloud are part of that commitment to empower users with powerful insights that enable strategic business decisions and intelligent enterprises.
November 7 #askSAP Live Chat: Dresner Advanced and Predictive Analytics Market Study