Application Wizards Jumpstart Self-Service Predictive Analytics Processes
Boston, November 21, 2013 – RapidMiner, formerly known as Rapid-I, the de-facto industry standard for predictive analytics built on an open stack, today released version 6.0 of its application. The primary focus in RapidMiner v6.0 is the addition of application wizards, a new class of feature designed to make the power of predictive analytics accessible to everyone, particularly business managers and business analysts. RapidMiner v6.0 provides four specific application wizards to start, including:
· Churn reduction
· Direct marketing
· Sentiment analysis
· Predictive maintenance
More applications will be added soon.
“RapidMiner v6.0 delivers the first value to business managers and analysts within five minutes of installation,” said Ingo Mierswa, co-founder and CEO of RapidMiner. “The new application wizards put the power of predictive analytics into the hands of the users who best understand the business context and have the ability to act upon this knowledge.
“Application wizards provide a path to self-service predictive analytics for business managers and business analysts — no programming required. RapidMiner quickly delivers insight into the data and guidance around the best display of the results. With RapidMiner v6.0, business users can engage and execute immediately,” Mierswa continued.
–Additional Features and Functionality Address Needs of Business Analysts–
RapidMiner v6.0 also includes revised visualization management and display creation, as well as new views for data statistics and results.
Now users can find the best option for their data visualization needs among the thumbnail displays RapidMiner offers. RapidMiner produces a selection of charts and visualizations automatically, choosing the most appropriate settings based on data properties. Anyone can produce professional-looking data visualizations in minutes.
An improved results view is designed especially for business analysts. Results are displayed in multiple formats. For example, a data set can be visualized as a table or as a statistical overview. A model can be displayed in interactive mode (for exploration) or in a textual mode (for saving or integration). The different views can now be easily identified, and users know in advance what they can expect from each view.
The new statistics view allows users to sort and filter the most important statistics for their data for a quick, high-level overview. Business analysts can then drill down and produce full statistics for each column, distribution charts and additional advanced information. Color-coding makes it easier to find the predicted values or confidences for predictions out of very large data sets.
RapidMiner offers operational dashboards, metrics and performance reports in a single, easy-to-use platform that seamlessly integrates with popular enterprise data sources. By providing a wide variety of rich descriptive and predictive models to give customers the insight to make profitable decisions, RapidMiner has turned predictive analytics into one of the most effective strategies to accelerate business growth. In RapidMiner v6.0, several new product tours and tutorials walk business users through the many predictive analytics options available to them.
RapidMiner includes an integrated Marketplace, which offers a variety of useful extensions published by independent developers. The addition of application wizards in RapidMiner v6.0 creates a new category of extensions, creating new opportunities for developers in the RapidMiner community at-large. It demonstrates the potential of a more user-friendly and business-oriented approach to predictive analytics.
Pricing and Availability
RapidMiner Studio v6.0 also offers new pricing options.
· Starter Edition, with access to one GB of memory, access to data from MS Excel and CSV files, is available for free download;
· Personal Edition, with access to four GB of memory, access to most common data file types and open source databases, and support, is priced at $999;
· Professional Edition, with access to eight GB of memory, access to the most common data files and databases, and support, priced at $2,999; and
· Pricing for Enterprise Edition, with access to unlimited memory, access to all files and databases, (including HDFS, SAP, SAS, and SPSS), and full support, is available on request.
The same tiers also exist for RapidMiner Server v6.0, available now.
Pioneering advanced analytics vendor RapidMiner is redefining how business analysts use Big Data to predict the future. With an open source heritage, RapidMiner is one of today’s most widely known and used predictive analytics platforms, providing powerful solutions for a wide variety of industries. For more information, visit www.rapidminer.com.
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What others say about RapidMiner 6.
“(RapidMiner v6.0) is one of the most exciting things to happen to data mining, going beyond the capability of the established players, not with questionable additional capability, but with a focus that delivers the business benefits that we have all sought and to date have found elusive. I think this is a product to take very seriously…” David Norris, Bloor Research, from “RapidMiner – A Potential Game Changer” November 18, 2013
“The company has come a long way since the beginning of the year. Recent corporate and product changes make sense, and should position RapidMiner for success in the all-important US market… The company has essentially taken analytical best practices and processes, and served them up in templates for business use-case scenarios, such as customer churn in the telecommunications sector.” Krishna Roy, 451 Research, November 20, 2013
“RapidMiner is a widely used data mining toolset with a good gui interface and broad capability…(it) is an extraordinarily good analytics workbench and the new pricing is really quite moderate.” Martin Butler, Butler Analytics, November 22, 2013
In addition, we received positive feedback from our board, all data industry veterans with wide experience in the industry:
“Just as MySQL changed the face of the entire database industry, we see Rapidminer as being in a similar position to disrupt the predictive analytics space. RapidMiner serves the open source community with a great free product that matches and often surpasses proprietary alternatives when it comes to real user needs. And, it provides a strong enterprise offering with a significantly lower total cost of ownership than the competition.
We have been excited to receive positive feedback from the community on the new Rapidminer release, and to see how quickly the community is growing. Our message to all users is ‘Continue to actively communicate about the product with us and each other. The strongest of ecosystems is built by a community where people share both their positive remarks and their criticism; their contributions and the help they received; their needs and wishes for the future – all honestly and actively with each other.’ We want to help the company put in place the tools, the principles and the guidelines that can help build the leading open ecosystem for predictive analytics and data mining.” Patrik Backman, Managing Partner, Open Ocean Capital and Michael “Monty” Widenius, Technology, Open Ocean Capital’s Community and Open Source Wizard.
“We could see immediately that RapidMiner is disruptive to the existing order in predictive analytics. It’s simple and is used the world over by businesses to rapidly uncover trends, segments or relations from Big Data. By allowing experts in different technology and operational domains to quickly share context and knowledge, RapidMiner is having a major impact.
“The fast-growing market for predictive analytics platforms is starting to segment based upon level of skill, complexity and overall richness and sophistication of the technology. RapidMiner is the only solution we found that puts the person who has to solve a predictive analytics problem right in the middle of a very broad value proposition.” Jason Whitmire, Partner, Earlybird Venture Capital
“When was the last time you’ve seen such a ubiquitous sea change in management consulting? KPMG has set up its first $100m fund to exclusively invest in data and analytics businesses via strategy acquisitions and technology partnerships. Deloitte signed up for 10,000 licenses of analytics tools. McKinsey is unlocking innovation and performance with open data and liquid information. BCG sees Big Data a potential game changer in the insurance industry, and IBM is embedding analytics almost everywhere to turn insights into action. Now put RapidMiner’s no-programming-required predictive analytics capabilities into the hands of consultants and their clients, and you have the most powerful tool to-date to explore and devise new strategies. With RapidMiner you can answer the question, “Now that we can predict what is most likely to happen, how do we best prepare?” JJ Sendelbach, founder and managing director, Doublejay Consulting
“With the current release of RapidMiner v6, and the introduction of application wizards to help business analysts instantly work with their data, RapidMiner will continue to be the platform of choice for anyone analyzing Big Data.” Usama M. Fayyad, Ph.D., Chairman, Co-founder & CTO of ChoozOn Corporation/ Blue Kangaroo, in an open letter to the KD Nuggets community