Logi Analytics Inc., a company that sells tools for developers to embed data analytics capabilities into their software applications, is expanding its capabilities with predictive analytics.

Logi Analytics offers a development platform that allows application makers to tap into a wide range of data sources, including relational databases such as Oracle and SQL Server and specialized big data tools like Apache Hadoop, Amazon Redshift and HPE Vertica. The company also provides dashboards and data visualizations for developers to get insights from their data, allowing them to monitor and improve the performance of their apps and inform new designs and updates.

Now, the company is giving developers the chance to embed predictive analytics into their applications too, with a new product launched today called Logi Predict.

Predictive analytics is a form of advanced analytics that uses both new and historical data to forecast activity, behavior and trends. It involves applying statistical analysis techniques, analytical queries and automated machine learning algorithms to data sets to create predictive models that place a numerical value — or score — on the likelihood of a particular event happening.

Logi Analytics said the ability to predict behavior and trends opens up new possibilities for application developers. For example, it can help make apps that can detect fraud in financial transactions, reduce machine downtime, identify high-risk healthcare patients and boost sales through targeted promotions.

Logi Predict makes it easier to embed predictive analytics as it eliminates much of the work involved, which requires extensive knowledge in statistical modeling and programming languages such as R and Python. The company said it has transformed what was a complex 14-step process into a simpler three-step process that almost any developer can perform quickly.

Here’s a quick video from the company that showcases what predictive analytics can do:

“Predictive analytics is the No. 1 capability on product roadmaps according to the 2018 State of Embedded Analytics Report, but incorporating these capabilities into your application is no easy task,” Brian Brinkmann, Logi Analytics’ vice president of product marketing, said in a statement. “Logi Predict provides an embeddable solution that scales alongside your application, and it can be deployed five times faster than building something yourself.”

Image: Logi Analytics