RapidMiner: Empowering Enterprises with Predictive Analytics

RapidMiner: Empowering Enterprises with Predictive Analytics

Peter Lee, President & CEO, RapidMinerPeter Lee, President & CEO
Big Data has become the new buzzword among enterprises for collection of vast troves of data that can be synthesized-helping CIOs make smarter and faster decisions. As more data sets from diverse sources are incorporated into an analytical platform, the increased time lag impacts the data currency and consistency which becomes a challenge. RapidMiner, a Cambridge, MA based company provides an open source predictive analytics platform that empower enterprises by including predictive analytics in the business process. “Our company’s solution spans across various industries to solve the challenges that the data-enabled businesses face today. With such predictive analytic solutions, firms can pro-actively optimize their businesses performance,” begins Peter Lee, Founder and CEO of RapidMiner.

“RapidMiner7 streamlines the process of accessing, importing, and preparing data for true predictive analytics which makes the users more productive,” explains Lee. The product supports latest Hadoop distribution and more code-optional operations for Spark; this enables users to extract greater value from big data. Another feature of the product is the tableau extension through which clients can obtain new insights on the value of predictive analytics in the form of tableau data visualizations and gains better results.

RapidMiner Radoop is a core component of the RapidMiner Predictive Analytics Platform. It extends predictive analytics to Hadoop and supports Hadoop security implementations to give a seamless service. The product translates predictive analytics workflows in RapidMiner Studio into the language of Hadoop and ensures that each step in the predictive analytics process is correctly integrated and executed. “With the added flexibility, clients are able to incorporate SparkR, PySpark, and HiveQL scripts within their own predictive analytics workflows,” says Lee.

RapidMiner7 streamlines the process of accessing, importing, and preparing data for true predictive analytics which makes the users more productive

The company’s predictive analytics solutions are implemented in the oil and natural gas industry to predict equipment malfunctioning, failures, and minimize the dangers for unplanned disasters by putting the business at risk. It optimizes the clients’ maintenance schedules, reduces costs by cautiously allocating maintenance resources, and reduces mean time to repair. These solutions detect the problems in production and ensure that the clients’ equipment, machinery, and processes are producing proper output and quality. “We improve the overall product quality and adjust the client’s warranty processes to reduce their warranty cost,” says Lee. Through predictive analysis, clients are able to assess their economic development and take measures to avoid financial loss. “Our solutions identify nascent fraudulent behavior and prevent criminals from contaminating the business,” says Lee.

Such best-of-breed predictive analytics solution was utilized by one of the clients, PayPal, a global commerce company for online payment system. The client was facing issues in analyzing the vast quantity of customer feedback, which was covered in multiple languages from global customer base. “Using RapidMiner, we could extract the list of the most frequent words from the customer complaint verbatim dataset. We then found two top passwords or PayPal access ‘defects’ and identified the actionable, root causes, after discussing results with the relevant engineers,” says Lee. RapidMiner was able to deliver cost-effective results within two months.

RapidMiner considers expanding their services to make it more streamlined and plans to incorporate new features to enrich the client’s experience. “We want to improve our technique in predictive analytics by bringing together global expertise, innovation, and creativity,” concludes Lee.