5 Open Source Predictive Analytics Tools
5 Open Source Predictive Analytics ToolsA predictive analytics initiative can be an expensive undertaking. Fortunately, there are some great open source predictive analytics tools.
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A common knock against analytics is that it focuses on past activity and delivers insights in reports that do not help companies craft effective competitive strategies. Predictive analytics aims to change that, by using statistical algorithms and machine-learning techniques to predict the likelihood of future outcomes.
Predictive analytics is also going more mainstream, thanks to APIs (application programming interfaces), web services, predictive model markup language (PMML) and other development tools and technologies that make it easier for companies to include it in their business analytics programs.
Launching a predictive analytics initiative can be quite costly. Fortunately, companies can use open source predictive analytics tools to keep costs low while exploring the possibilities of predictive analytics.
Building a kit of open source predictive analytics tools enables data scientists to take advantage of each tool's strengths and add new predictive analytics tools when ready to widen the scope of prediction types. Here we feature five popular open source options that can boost business analytics initiatives.
A predictive analytics initiative can be an expensive undertaking. Fortunately, there are some great open source predictive analytics tools.