When it comes to analytics, the biggest challenge is not creating the algorithms that drive the application; it’s getting the information the application generates into the hands of end users in a way they can easily consume it.
With that issue in mind, Predixion Software has developed an analytics application that functions essentially as an extension of the Microsoft Excel spreadsheet that is familiar to so many users. This week, Predixion announced that it not only picked up another $20 million in funding, but that Accenture is going to work with Predixion to develop a number of predictive analytics applications based on the company’s software.
According to Predixion Software CEO Simon Arkell, Predixion allows organizations to create predictive analytics that rival anything that can be done in IBM SPSS or SAS, and they are created in a way that removes the complexity normally associated with that class of analytics application.
Making use of what the company calls a Machine Learning Semantic Model (MLSM), Arkell says Predixion addresses the “last mile” of analytics issues by presenting results that are generated by the company’s cloud application within the rows and columns of a Microsoft Excel spreadsheet. Arkell says this approach not only eliminates the need to hire dedicated data scientists to create predictive analytics applications, it also allows organizations to get much more out of the data analysts in which they have invested. Just as important, Arkell says Predixion is doing this in a way that allows the average organization to embed predictive analytics information within their existing workflow processes.
Predictive analytics can be a very powerful tool when information is put in the right hands, but it has seen limited adoption over the years because of the expense and complexity associated with building these applications. By leveraging the cloud and traditional PC application software, Predixion is smoothing the path to predictive analytics apps for even small organizations.