Analyst Perspectives

Organizations are continuously combining data from diverse and siloed sources for analytical, artificial intelligence and machine learning projects. As the volume of data grows, it becomes challenging for organizations to manage and keep current to extract valuable insights in a timely manner.

Businesses also face challenges such as a lack of required skills and a shortage of data science expertise. Our Analytics and Data Benchmark Research shows that two-thirds of organizations do not have the necessary AI/ML-skilled resources. These hurdles slow the adoption of AI-driven initiatives within organizations. Furthermore, dealing with insecure or unscalable production environments hinders organizations from successfully executing data analytics projects. Altair is a data science vendor accelerating AI adoption within organizations.

Altair is a significant player in computational science and artificial intelligence. It offers various software and cloud applications encompassing simulation, high-performance computing, data analytics and AI.

Altair has engaged in several acquisitions across diverse sectors, including manufacturing, business intelligence and big data analytics. In 2021, it acquired World Programming, a UK-based technology company specializing in data analytics software. Last year, Altair completed the acquisition of RapidMiner and rebranded its entire data analytics and AI suite. In July 2023, Altair acquired OmniV, a product development software company situated in southeast Michigan.  

The Altair RapidMiner cloud AI platform offers an end-to-end solution for data ingesting, modeling, operationalizing and visualizing. It enables organizations to accelerate and scale AI/ML initiatives, reducing the need for a large number of data scientists or resource-intensive service involvements. By 2025, 9 in 10 analytics processes will be enhanced by AI/ML to streamline operations and increase the value derived from data.

The latest versions of Altair RapidMiner Studio and Altair RapidMiner AI Hub include interactive decision trees, integration capabilities and Apache Spark 3 support in Radoop. These enhancements further expand the platform's capabilities, providing users with the necessary tools for data analytics projects. Individuals can execute SAS language programs, models and workflows directly within the platform. The system also accommodates other widely-used data languages such as Python, R and SQL, offering a range of options for data analytics projects.

Altair's offering extends beyond its software products. Through its Center of Excellence methodology, Altair assists organizations in establishing data analytics programs and upskilling the workforce. The CoE approach identifies the most critical use cases and enables business line teams – from business analysts to data scientists – to proactively address data analytics challenges.

Altair's solutions cater to a range of roles, including data scientists, engineers, MLOps specialists, business analysts and executives. It offers a no-code interface that enables non-technical users to work with data analytics projects. It also allows technically skilled individuals to write and integrate custom code. Altair allows users to develop data-centric applications using diverse programming languages. This capability enables blending syntax from multiple languages within a single program. With code-based and no-code tools, workers can generate, manage and execute models and programs using Python, R, SQL and SAS languages.

Altair's solution also caters to organizations that have invested considerable time and effort in building intellectual property using the SAS language. These organizations use Altair's tools to maintain and operate existing SAS language programs without additional third-party products. This compatibility safeguards investments and promotes a seamless transition to more contemporary and versatile languages, enhancing the efficiency of data-centric applications.

Altair SLC facilitates the execution of SAS language-syntax programs without translation or reliance on third-party licensing, curtailing capital expenditures and operational costs. The software features an integrated SAS language compiler responsible for executing SAS language and SQL code, complemented by Python and R compilers for Python and R code execution. Altair SLC is also available on Google Cloud Marketplace.

Altair has built its portfolio through a combination of strategic initiatives and acquisitions. The company could further enhance its products and services by emphasizing seamless integration across its software suite, creating a unified ecosystem for data analytics and AI. By enabling organizations to capitalize on advanced data analytics and AI cost-effectively, Altair's offerings align with the growing need for streamlined data analytics operations and AI integration. With a strong focus on accessibility, collaboration and integration, Altair is well-positioned to guide organizations toward data-centric transformation.

With the increasing importance of AI and machine learning in analytics processes, Altair's comprehensive approach aligns with market trends. Altair RapidMiner enables users to tackle data challenges and foster AI adoption. It also offers end-to-end data management and versatile language support. Strategic acquisitions and upskilling initiatives position Altair well in the evolving data analytics landscape. We recommend that organizations looking to optimize data analytics and AI initiatives consider Altair's offerings, including Altair RapidMiner.

Regards,

David Menninger