In their second software release this week, SAP announced the general availability of a new analytics solution. Cleverly named Predictive Analytics 2.0, SAP combined the performance of predictive analytics software with the functionality of their InfiniteInsight solution. Predictive Analytics 2.0 allows a broad range of users the ability to spot opportunities in real-time in order to make swift and accurate business decisions with confidence. The simplicity of SAP’s new solution is its selling point, as business users, analysts and data scientists are granted ease of use.
The Predictive Analytics solution provides an integrated environment to give users the ability to uncover trends from their big data, the blooming Internet of Things, and existing SAP and third-party data sets. Real-time functionality is at the forefront of this new release, providing an organization with more complete business insights as a result of gaining a better understanding of customer behavior. Understanding customers will allow any organization to service them better, thus resulting in expanded business opportunity and profitability.
Clemens Praendl, Senior VP and GM of Analytics at SP notes: “The growth of data sources and sensors and the increased demand for actionable insights mandate broader access to predictive analytics. SAP Predictive Analytics is designed to help bridge the skills gap by placing complex predictive capabilities in the hands of many more users. By incorporating predictive results into more applications and business processes, users will be able to identify hidden patterns like never before, revealing new or expanded business opportunities.”
2.0’s real-time features assist the user in fraud detection, risk mitigation, revenue optimization and customer retention with the following features:
- Data Preparation: No coding needed; helps automate the process of transforming your data into a format that’s right for you.
- Advanced Visualization: Integrates and analyzes data from a variety of enterprise and personal sources while combining data manipulation with visualizations.
- Data Modeler: Provides a modeling environment for data analysts and scientists with predictive analytics. This helps to automate the formation of predictive models for all data mining functions.
- Scorer: Graphically displays the individual variable contribution to the model, which then helps to select the most important aspects for use in a business question.
- Model Management: Helps drive workforce productivity with predictive model management solutions that enables users to look at what-if scenarios more often, thus getting answers faster.
- Network and Link Analysis: Gives users the ability to discover similarities between their customers and social influencers with analytics. Graphs can be created for various types of product or associations, enabling advanced personalization to enhance customer loyalty.
In an industry where many other solutions vendors build their solutions vertically for the IT world’s elite, SAP is taking a different approach. With the new Predictive Analytics 2.0 solution, SAP is constructing their software horizontally, giving access to many types of end-users.
Check out these additional resources:
- The 5 Best AWS Data Analytics Courses and Online Training for 2021 - September 21, 2021
- Domo Releases New Dev and Testing Environment Called Domo Sandbox - September 20, 2021
- The Coolest Data Analytics and Business Intelligence CEOs of 2021 - September 17, 2021