A leading innovative data analytics company, RapidMiner (recently acquired by Altair), believes in transforming data science skills at an enterprise level. The data science and machine learning platform offers functionality and services that enhance its clients’ AI-driven decision-making and business processes across the entire organization. RapidMiner firmly believes in empowering data science experts, IT teams, and business analysts alike with a modern people-centric approach. Whereas data science used to belong solely to data scientists, the demand is outstripping the supply of technical talent in most enterprises. RapidMiner strives to help organizations leverage their people, expertise, and data to build a more data-driven business for its customers.
Initially launched in 2006, the platform uses AI to support analytics users regardless of skill level. Data analysis is a broad sphere influenced by various factors and trends, such as the evolution of automated data science, bifurcation of the DSML market, low-code acceptance, rise of environmental AI, and the pragmatism of computer vision. RapidMiner continually adapts its offering to tackle the latest innovations in data analysis.
Using techniques like bias detection, risk management, and target recommendation, RapidMiner solves the issue of automated data science. It handles the bifurcation of the DSML market by expanding its consumer base, enabling personas to collaborate with one another, and focusing on LOB-specific DMSL users. While experts often struggle to accept low-code solutions, RapidMiner caters to them by providing the utmost flexibility—offering a spectrum of code-based, low-code, and no-code options to create models quicker and increase productivity no matter an individual’s skill-set or preferences. RapidMiner increases access to data science for all users, even simplifying complex computer vision algorithms to make them more accessible. With the switch to cloud computing and enhancing ML algorithms to decrease carbon footprint and energy consumption, RapidMiner works to counter environmental issues like deforestation, pollution, and additional energy consumption.
“People x Expertise x Data. Boom. It’s simultaneously a fun, inspiring, and punchy line, as well as a differentiating statement and a promise to our customers. We help people amplify the collective impact of their people, expertise, and data. We’ve always been about delivering results and creating a competitive advantage with AI,” said Ingo Mierswa, Founder of RapidMiner.
There are many common problems in data analysis—the ever-present skills gap, lack of trust in data science, and insufficient tooling—to name a few. RapidMiner provides one platform for everyone, bridging the skills gap and increasing the data science workforce to solve the problem of low contribution and a lack of talent. They can also solve the lack of trust in AI by providing a fully explainable solution, rather than a black box. Data scientists frequently hit a wall when it comes to scaling their efforts—RapidMiner, offers analysts a mature and flexible platform to scale their projects quickly and efficiently.
As powerful as the platform is, what often sets RapidMiner apart in the eyes of customers is its unique methodology called RapidMiner Center of Excellence (COE) that gets paired with its platform to help analytically upskill anyone in the organization. It essentially helps address every single aspect of the ‘people’ part of digital evolution—from teaching foundational knowledge to systematic change management and even executive training. RapidMiner delivers a unique customer experience that clients often rave about, which is why they boast a long list of very loyal blue-chip customers.
Customer churn is a major concern for every company. It results in high expenditure due to acquisition costs, requires long-term planning, and often results in a loss since the money and resources spent on signing the customer were more than their investment in your services. Even if a company earns profit before the customer churns, it tends to lose cross-sell, upsell, and referral revenue, especially when customers close their accounts or withdraw their investments without prior notice. RapidMiner’s churn prevention tool analyses clients’ profiles and data, such as product usage, previous purchases, and complaints to detect and identify churning patterns and find ways to prevent them. The churn prevention tool maximizes customers’ lifetime value by avoiding churn, ensuring customer satisfaction and spending the customer acquisition budget wisely.
Business and client data include numbers, figures, images, text, online reviews, social media posts, call centre transcriptions, forums, journals, patent filings, and audio. With RapidMiner’s text mining service, organisations can gain invaluable information and insight from qualitative and textual data they’re already collecting. It reads between the lines to understand every aspect of the data provided and uses text analysis software to extract structured and unstructured data via natural language processing (NLP). It uses patterns, themes, and specific language characteristics to understand a client’s thought process and motivation.
With its commitment to evolving enterprises, individuals, and their expertise, RapidMiner democratizes complex projects, increases group participation, and produces impressive results on any scale by catalyzing transformation. started by Ph.D. data scientists who wanted to make AI accessible to a larger audience and amplify the impact of data science, RapidMiner’s software and methodology have helped catalyze and continuously improve DSML initiatives at organizations around the world.
160over90, a creative agency, employed RapidMiner’s services to obtain detailed consumer insights for customer segmentation, brand health tracking, and messaging. The data science platform also helped Domino’s anticipate ingredient demand with a high degree of accuracy by creating and scaling R-based time models. The VP of Measurement and Data Science at National Consumer Panel used RapidMiner’s text mining capabilities to increase market research engagement and provide its clients with accurate retail data, even in the height of the COVID-19 pandemic.
When a client of the Pegasus Group, a leading consultancy agency, experienced a DDoS attack on a major network, they panicked. Since the attack was DDoS, it was challenging to identify its source and origin. DDoS attacks are swift and cause damage on a large scale if not fixed immediately. The consultancy agency was under a time crunch, as it had to protect and back up its client’s data. Using RapidMiner Real Time Scoring, the agency stratified sampling to identify the legitimate packets and differentiate those that were part of the DDoS attack.
Healthcare companies, medical providers, even patients—everyone is susceptible to healthcare fraud, which is often hard to detect and identify. A healthcare company at the receiving end of medical fraud used RapidMiner’s platform to collect data and flag fraud cases on a bigger scale, as well as integrate various new methods to catch fraud quickly. RapidMiner’s AI technology enabled the healthcare firm to identify a $20M fraud, detect and prioritize high-risk cases, reduce the time spent on inspection, monitor fraud patterns, and prevent new fraud cases.
With its new multi-tenant, cloud-native SaaS platform, RapidMiner has created a visible shift in the data analysis space, improved team members’ skills, increased data-led decision-making, and built successful client relationships.