MicroStrategy, a provider of business intelligence software, has enhanced its predictive analytics capabilities with support for the new version of the data mining standard, PMML 4.0.
The Predictive Model Markup Language (PMML) standard is developed by Data Mining Group (DMG), an independent consortium of over two dozen technology companies, including MicroStrategy.
MicroStrategy claims that the PMML standard describes how predictive models work and it enables the models to be shared across the organisation. This XML-based standard creates the integration of data mining models between MicroStrategy and other data mining applications possible.
According to the company, data mining is a part of the MicroStrategy architecture that enables users to determine hidden patterns in the data through enterprise reports and dashboards. While BI provides insight into historical data, data mining uses this information to allow companies forecast future events.
Users can deploy data mining models and include the results of these models in a range of BI applications, such as call centre analyses, customer relationship management and financial budgeting and forecasting.
The company said that along with existing data mining models, MicroStrategy 9 comes with new capabilities, such as the Time Series model, which is used to forecast results along a given timeline, and the Association Rules model, which is helpful for discovering relationships in databases and recommending products that customers are likely to purchase.
