SAS Factory Miner will take your business analysis to next level!

SAS gained significant reach across the globe by providing a reliable platform for advanced statistical analytics. As the more and more organizations grow their need to acquire analytical software, SAS skills reached over 75,000 organizations around the world. The recent inclusion of SAS Factory Miner to the revolutionary SAS platform, the possibility of generating data model automatically has come true. It is capable of building multiple data models that can even predict the future events with precise metrics and facts.

Sascha Schubert, Marketing Director at SAS told reporters that “If you take too long coming up with a model, you lose a lot of value. You want to be efficient in your analytics.” For many years, business analysis professionals build data models manually by selecting from single or multiple data tables and trying to understand how they work together to produce the desired outcome. However, this manual creation of data models proved difficult and troublesome while the volumes of data grow significantly every other day.

SAS Factory Miner

Eliminating the obstacles in the building of data models, SAS unveiled a tool called SAS Factory Miner that effectively automates this process of data models building and data models testing, which could lead to better models that are quickly produced than what could have been done manually. It could also help improvise the need for an organization to recruit more data scientists, who are much in demand.

SAS Factory Miner is capable of using a variety of data sources, as long as the data itself is feasible to be formatted into its table. The platform runs on a server and can be accessed with the help of a browser. Overall, it offers a graphical point-and-click interface. It comes with a set of customizable templates for creating baseline models. Analysts can fine tune or revise any of the computer-generated models.

Best Data Models

Another important highlight of this software is that it is capable of selecting best data models. It uses different sets of algorithms to conclude the best data model and with the help of repeated testing of the models, it recognizes patterns to anticipate future performance. One unnamed customer used an early version of the software to build 35,000 different models in order to find the best approach for a marketing campaign.

The incredible approach and optimistic performance of SAS Factory Miner enable what Schubert called stratified modeling, in which large sets of data, such as sales, can be divided into smaller segments. That being said, the stratified modeling is very beneficial for its more accurate results in spite of its usage has been limited by the time it takes to build the models, Schubert said. This revolutionary tool could make a remarkable difference in the financial institutions by enabling them to build different models for different kinds of potential users, based on their spending ability, buying behavior and various other factors.

SAS Factory Miner can be utilized by various departments of the business that includes the marketing and technology in particular. It helps them to reduce the customer churn and provokes the growth by predicting future demand, personalizing offers, and managing risk. Let us take a business for example which uses this software to construct more accurate predictions for when their product fails to meet the expectation of the customer. The business can optimize the product to avoid any such failures in the future.