Lavastorm Analytics, a data management and analytics software company, has added new functionality within the Lavastorm Analytics Engine platform that enables business analysts who have a limited knowledge of complex data science to deliver insights using predictive analytics.
According to the company, business analysts typically encounter problems when trying to utilize predictive analytics. They lack the skills and training of data scientists to work in complex programming environments like R. Additionally, many existing business intelligence tools are not tailored to enable business analysts to combine rich data sets with their essential business knowledge, and there is also a lack of transparency and collaboration between business analysts, IT and data scientists to implement and realize the value of data models within their organization.
With the new functionality, Lavastorm says it is democratizing predictive analytics by giving business analysts drag-and-drop capabilities specifically designed to help them master predictive analytics. The addition within the Lavastorm Analytics Engine’s visual, data flow-driven approach enables a new method for authoring advanced analyses by providing a single shared canvas upon which users with complementary skill sets can collaborate to rapidly produce analytical applications.
New predictive analytics features for business analysts include capabilities for linear regression; logistic regression; K-means clustering; hierarchical clustering; and decision trees.
The new predictive analytics features for business analytics are available to Lavastorm customers beginning today. They are the first set in a series of analytical components which will be added to this library. Lavastorm will be providing ongoing webinars and other educational content to facilitate the adoption of the new functionality.
“Demand for advanced analytic capabilities from companies across the globe is growing exponentially, but data scientists or those with specialized backgrounds around predictive analytics are in short supply,” said Drew Rockwell, CEO of Lavastorm. “Business analysts have a wealth of valuable data and valuable business knowledge, and with the Lavastorm Analytic Engine, are perfectly positioned to move beyond their current expertise in descriptive analytics to focus on the future, predicting what will happen, helping their companies compete and win on analytics.”
For more information, visit www.lavastorm.com.