SAP Predictive Analysis is a data mining and statistical analysis solution that enables you to build different predictive models for discovering hidden relationship and insights in your data. You can even make predictions regarding the future events with the use of the data. It is a solution that offers a wide range of predictive analysis capabilities that include in-memory data mining capabilities and support for R Open Source for statistical analysis language.
It helps you to handle large volume of data analysis with the leveraging of HANA. It also includes the information about the new inventions and things that has been innovated or changed. It also provides a powerful database analytic on the massively parallel and scalable in-memory platform that can process large volumes of data very quickly along with delivering new insights.
SAP Predictive Analysis also allows for the integration of the built in analytic with SAP and third party analytic tools. This is done to meet the needs of every user from application developers to business users to scientists. This solution has inherited the data manipulation and data acquisition functionality from the SAP Lumira.
This solution is very useful for the employees as it helps them to discover, visualize and share the hidden risks and untapped opportunities all in real time. The advantage of using this solution for your business is that it is integrated very well with the SAP’s business objects suite that is a visualization tool that was formerly called as Visual Intelligence.
SAP Predictive Analysis is based on predictive model which is an algorithm, equation or set of rules that are used for predicting an outcome that is based on the input data. It can also be called as a set of business rules that are based on the past observations. But if you want to develop statistically rigorous and more accurate predictions, you have to use statistical algorithms that are used for developing predictive equations that are used very often. Thus the key components of predictive analysis are optimization, prescriptive and descriptive.
Optimization is a range of outcomes that are most likely to happen in your organizations and how can your company prepare for these outcomes in the best possible manner. Prescriptive is a part of the analysis relationships and trends in the past events which are used for making predictions on the things that might take place in the future. Descriptive can also be described as the events that took place in the past in an organization which also includes descriptive statistics like mean, median and mode as it is used for measuring and quantifying historical events.
SAP Predictive Analysis is used by sophisticated business user audiences and business analyst for bringing in data and visualizing it so that you can create something interesting for your organization. It also helps you to build a decision tree or forecast model for your organization. It is an easy to use solution as it also provides visualizations that are intuitive as it consists of a lot of drop and drag functionality.