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Basic Forecasting

Built-In Forecasting Models

Basic forecasting allows you to attach one of the six built-in forecasting models to your query without opening the Advanced Forecasting dialog. Basic forecasting is the quickest and easiest method of attaching a forecasting model to your query.

To perform basic forecasting:

  • Click Forecasting icon in Data Discovery/Analytics ribbon.
  • Select one of the six built-in forecasting models, as described below.

Standard (default)*

Holt-Winters forecasting model which includes exponential smoothing with modeling for data that has both trends (beta) and seasonality (gamma).

Trend Only

Holt-Winters forecasting model which includes exponential smoothing with modeling for data that has trends (beta) only.

Seasonal*

Holt-Winters forecasting model which includes exponential smoothing with modeling for data that has seasonality (gamma) only.

Simple

Holt-Winters forecasting model with exponential smoothing for data that has neither trends nor seasonality.

Simple Smoothing

Forecasting model with a Simple Moving Average (SMA).

Exponential Smoothing

Forecasting model with Auto Regressive Integrated Moving Average (Auto ARIMA) for data with stationary time series and for data that may contain seasonality.

*IMPORTANT: The Standard and Seasonal forecasting models cannot be run on years. These two models can be run on quarters, months and days only. The reason is that these two models employ seasonality (gamma) which cannot be calculated in time periods of years.

 


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