8 Best AI Tools for Data Forecasting and Prediction 2024

The technology-driven AI tools have brought revolution across the globe and are expected to boom the market in 2024 as well. The global AI market is currently whopping $150.2 billion and is projected to increase by $40 billion by 2025.

Different AI tools have taken the data forecasting and prediction domain to the next level. These software tools have the potential to predict the upcoming future trends and consequences for the betterment of different sectors and industries.

Whether you want to develop new marketing strategies for your business or want to make a property investment in 2024, you can leverage the data of reliable artificial intelligence tools and develop strategies to make well-informed decisions.

Here are eight most potential AI tools to help you predict and forecast data in 2024:

1. Google Cloud AI Platform

Believe it or not! Google Cloud AI Platform is one of the most trusted, versatile, and diverse AI tools in the market. It comes with a huge range of machine-learning tools, supporting forecasting and predictive modeling.

It allows certified data analysts and scientists to develop, deploy, and control machine learning models for predicting future market trends and repercussions. Below are some of the key features of the Google Cloud AI platform for predicting data in the next year:

Take the benefit of new-age algorithms, such as ARIMA and Prophet for time series forecasting.

You can gain insights into key factors that may help you predict future trends.

Run forecasting tasks on Airflow workflows

2. Prophet

Prophet is a fully functional AI tool created by Facebook. It is an open-source artificial intelligence and machine learning tool that supports data forecasting and prediction with precision.

The best part about Prophet is that it is a perfect tool for its powerful performance and effective time series forecasting. That’s one of the reasons why it is a great tool for businesses that want data to predict, sales, customer demand, and market trends in 2024.

The company has been working on improving the existing features of Prophet to help deliver precise data on different aspects.

3. SAP Analytics Cloud

This is one of the most reliable and powerful business intelligence and advanced data analytical tools. It has the potential to predict data on various domains when it comes to market trends, operational strategies, and much more.

It allows businesses of all sizes and scales to gain insights into their data that can help make the right product production, promotion, and marketing decisions.

SAP Analytical Cloud is going to boost its AI-driven functionalities to give more precise predictive and analytics solutions.

4. Tableau

It is an integral part of Salesforce that allows data scientists to generate data and forecast future trends and their consequences. It comes with data visualization, machine learning, and business intelligence tools.

Tableau has built-in features to turn data into result-driven insights that can help you make decisions quickly and easily.

You can easily forecast predictions, analyze data, and forecast new trends for the development and growth of your business in 2024.

5. Amazon Forecast

It is a mind-blowing machine-learning tool that uses time series data to create precise forecasts. Amazon Forecast merges the robust features of deep learning with conventional forecasting techniques to let businesses gain accurate data and insights for the future.

The tool is still developing and refining its algorithms to add more data sources to help all scales and sectors of businesses in the world.

6. Microsoft Azure Machine Learning

Azure Machine Learning is one of the most powerful and reliable cloud-based services offered by Microsoft. It enables professionally trained data scientists to develop, deploy, and train machine learning models for predictions and forecasting data.

The new year will bring more changes to this AI tool and improve the in-built features and functionalities for businesses.

7. RapidMiner

Nothing is better than the RapidMiner AI tool when it comes to predicting and forecasting data for the future. It is a data science tool that runs the full lifecycle of forecasting analytics and generates data that can help you make the right decisions for the development of your business.

It comes with a super-effective and user-friendly interface to help build predictive models on the go. In 2024, this AI tool will introduce new features to support new-age data scientists for forecasting and predictions.

8. IBM Watson Studio

This is a fully integrated AI tool that is ideal for data forecasting and predictions in 2024. Designed for data scientists, IBM Waston Studio comes with automated machine-learning capabilities to forecast upcoming trends with precision.

In the next year, the company will focus on developing far-reaching AI-oriented features to generate better outcomes.

Conclusion

These are the 8 most powerful and reliable AI tools to build, deploy, and manage data forecasting and predictions in 2024. Businesses can use it to predict the latest trends and their repercussions for better outcomes.