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6 practical predictive analytics tools

John Brandon | May 31, 2013
Most analytics tools put data in an historical context. That's all well and good, but if what if you want to use past data to gauge future performance? That narrows your analytics options. These six tools will help you make practical use of your data in order to make business decisions.

Medio Platform: Prevent Customers From Leaving
Why It's Innovative: Dives deep into site visitor behavior to predict problems.

Google Analytics is a well-known tool for seeing how visitors use a company website or ecommerce portal. Medio Platform can help predict problems with customers. (The company went so far as to coin the term clustomer as a way to understand customer segments or clusters.)

The idea is to elicit corrective action. Users can determine why a customer is leaving a site suddenly, or why one segment stays in a certain section of a site more than others, and then create an approach that leads to more sales through a company site-through a better promotion, for example.

SAS Text Miner: Sift Through Large Documents
Why It's Innovative: Looks for trends in a vast text archive to predict issues.

Understanding a large document store can require long hours of analysis. SAS Text Miner examines documents and categorizes terms, weeds out misspellings and lists terms that deserve more focus and attention. For example, for a large company dealing with complaints about a product, Text Miner can analyze the complaints and determine trends that can help with future product development. This can help determine how to approach new customers, predict future complaints and know which support issues might be on the horizon.

 

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