CHICAGO, Oct. 6, 2020 /PRNewswire/ — Data mining software helps businesses and other individuals to derive useful data from a vast collection of raw information in order to identify similarities, patterns, and trends among the data. The findings of the process of data mining assist enterprises in forecasting outputs. Statistical tests, specific algorithms, predictive analytics, database stats, and machine learning are the key techniques used mostly by data mining software to mine information.
360Quadrants selected and evaluated many companies offering the best data mining software which can assist organisations make informed strategic decisions. Carrying out an in-depth assessment of the service provider, which involves a complete variety of capabilities and go-to-market strategy, such quadrants are developed. These quadrants are updated every three months, majorly in the data mining software domain, and implement a high degree of review by trained experts of the solutions and viability of the vendors.
A comprehensive SWOT evaluation is carried out by 360Quadrants and the vendors selected for placement are accurately reviewed. In order to acquire the best products for company expansion and product development, this evaluation enables companies to gain insights into potential market opportunities and growth potential. A comprehensive list of large corporate organizations that promote the vendor selection approach is illustrated by 360Quadrants.
Quadrant Categorization for Data Mining Software
360Quadrants analyzed almost 20 vendors in the Data Mining Software space and ten vendors were identified as Visionary Leaders, Innovators, Dynamic Differentiators, and Emerging Companies and placed in the 360quadrant.
Mozenda, Wolfram Mathematica, SPSS Modeler, and RapidMiner are identified as visionary leaders and placed on quadrant in the data mining software space.
SAS Enterprise miner and Oracle Data Mining have been described as innovators in the data mining software space.
ExportData and FS.net are identified as emerging companies in the data mining software space.
Orange and Octoparse have been categorized as dynamic differentiators in the data mining software space.
360Quadrants Assessment Method
As a consequence of thorough studies undertaken on specific competitor products, top data mining software vendors are listed and are positioned in the 360quadrant. For the assessment of the chosen vendors, nearly 85 performance factors have been defined. Two main categories that decide the vendor positions are: reliability of product offering and business strategy excellence. The evaluation factors recognized under the reliability of the product offering include the scale and scope of the range of products, the product’s key features, the product’s quality as well as the influence on brand reputation. The defining factors identified for business strategy excellence are geographical reach, range of applications provided, delivery channel mix, viability, and organic growth strategy capacity.
For generating an aggregate ranking from the criteria determined by researchers and industry consultants, weightages are allocated. The location of the software vendor will be determined by these generated ratings and they will be positioned on the quadrant as per their rating. If there are any internal or technical enhancements to the software vendors’ offerings, then the quadrant will be modified according to the enhancements.
360Quadrants is the largest marketplace looking to disrupt USD 3.7 trillion of technology spend and is the only rating platform for vendors in the technology space. The platform provides users access to unbiased information that helps them make qualified business decisions. The platform facilitates deeper insights using direct engagement with 650+ industry experts and analysts and allows buyers to discuss their requirements with 7,500 vendors.Companies get to win ideal new customers, customize their quadrants, decide key parameters, and position themselves strategically in niche spaces, to be consumed by giants and start-ups alike. Experts get to grow their brand and increase their thought leadership. The platform targets the building of a social network that links industry experts with companies worldwide.
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