Forecasting is making predictions about future events or outcomes based on past data and trends. It can involve both formal statistical methods using quantitative data as well as less formal judgment-based qualitative techniques. Key aspects of forecasting include dealing with risk and uncertainty, keeping data up-to-date, and comparing predictions to actual outcomes. There are various categories of forecasting methods, including qualitative techniques based on expert opinion for long-term predictions and quantitative models using historical data for short-term forecasts.
This powerpoint presentation was done as part of the course STAT 591 titled Mater's Seminar during Third semester of MSc. Agricultural Statistics at Agricultural College, Bapatla under ANGRAU, Andhra Pradesh.
Quantitative Math - MATH 132
Credits: Group 4 Reporters S.Y. 2015-2016
The ppt has animations, you'll appreciate the presentation if you'll download it. Thank you
This powerpoint presentation was done as part of the course STAT 591 titled Mater's Seminar during Third semester of MSc. Agricultural Statistics at Agricultural College, Bapatla under ANGRAU, Andhra Pradesh.
Quantitative Math - MATH 132
Credits: Group 4 Reporters S.Y. 2015-2016
The ppt has animations, you'll appreciate the presentation if you'll download it. Thank you
Interventions required to meet business objectives - from Forecasting Methods,
Forecast Accuracy / Error Reduction,
Integrate – Sales Forecast / Production to undertaking a CPFR
Interventions required to meet business objectives - from Forecasting Methods,
Forecast Accuracy / Error Reduction,
Integrate – Sales Forecast / Production to undertaking a CPFR
Combining forecast from different models has shown to perform better than single forecast in most time series. To improve the quality of forecast we can go for combining forecast. We study the effect of decomposing a series into multiple components and performing forecasts on each component separately... The original series is decomposed into trend, seasonality and an irregular component for each series. The statistical methods such as ARIMA, Holt-Winter have been used to forecast these components. In this paper we focus on how the best models of one series can be applied to similar frequency pattern series for forecasting using association mining. The proposed method forecasted value has been compared with Holt Winter method and shown that the results are better than Holt Winter method
Data science is likely to become even more important as the volume and complexity of data continues to increase. With advancements in machine learning and artificial intelligence, data scientists will have access to more sophisticated tools and algorithms to analyze and extract insights from data. Data science will continue to play a crucial role in fields such as healthcare, finance, and technology, helping organizations make better decisions and drive innovation. Additionally, there will be a greater emphasis on data privacy and ethical considerations as the use of data becomes more prevalent.
#Data science is a field that involves using statistical and computational methods to analyze and extract insights from data. It plays a crucial role in various industries, from business and healthcare to finance and technology.
Time Series Analysis: Techniques for Analyzing Time-Dependent DataUncodemy
Time series analysis is a powerful methodology for analyzing data that varies over time. It enables us to uncover patterns, trends, and dependencies within time-dependent data, providing valuable insights for forecasting, anomaly detection, and decision-making. In this PDF, we explore techniques used in time series analysis and their applications in various domains.
Demand Forecasting of a Perishable Dairy Drink: An ARIMA ApproachIJDKP
Any organization engaged in trading aims to maximize earnings while maintaining costs at
their bare minimum. One of the inexpensive ways to accomplish this objective is through sales forecasting.
Evidence from empirical literature has shown that sales forecasting frequently results in better customer
service, fewer returns of goods, less dead stock, and effective production scheduling. Successful sales forecasting systems are essential for the food sector because of the limited shelf life of food goods and the
significance of product quality. In this paper, we generated sales of forecasts for a perishable dairy drink
using the famous ARIMA approach. We identified the ARIMA (0, 1, 1)(0, 1, 1)12 as the proper model for
modeling the daily sales forecast of the perishable drink. After performing model diagnostics, the model
satisfied all the model assumptions, and a strong positive linear relationship (R
2 > 0.9) was observed when
the actual daily sales were regressed against the forecasted values.
The Art of the Pitch: WordPress Relationships and SalesLaura Byrne
Clients don’t know what they don’t know. What web solutions are right for them? How does WordPress come into the picture? How do you make sure you understand scope and timeline? What do you do if sometime changes?
All these questions and more will be explored as we talk about matching clients’ needs with what your agency offers without pulling teeth or pulling your hair out. Practical tips, and strategies for successful relationship building that leads to closing the deal.
Smart TV Buyer Insights Survey 2024 by 91mobiles.pdf91mobiles
91mobiles recently conducted a Smart TV Buyer Insights Survey in which we asked over 3,000 respondents about the TV they own, aspects they look at on a new TV, and their TV buying preferences.
Generating a custom Ruby SDK for your web service or Rails API using Smithyg2nightmarescribd
Have you ever wanted a Ruby client API to communicate with your web service? Smithy is a protocol-agnostic language for defining services and SDKs. Smithy Ruby is an implementation of Smithy that generates a Ruby SDK using a Smithy model. In this talk, we will explore Smithy and Smithy Ruby to learn how to generate custom feature-rich SDKs that can communicate with any web service, such as a Rails JSON API.
Elevating Tactical DDD Patterns Through Object CalisthenicsDorra BARTAGUIZ
After immersing yourself in the blue book and its red counterpart, attending DDD-focused conferences, and applying tactical patterns, you're left with a crucial question: How do I ensure my design is effective? Tactical patterns within Domain-Driven Design (DDD) serve as guiding principles for creating clear and manageable domain models. However, achieving success with these patterns requires additional guidance. Interestingly, we've observed that a set of constraints initially designed for training purposes remarkably aligns with effective pattern implementation, offering a more ‘mechanical’ approach. Let's explore together how Object Calisthenics can elevate the design of your tactical DDD patterns, offering concrete help for those venturing into DDD for the first time!
LF Energy Webinar: Electrical Grid Modelling and Simulation Through PowSyBl -...DanBrown980551
Do you want to learn how to model and simulate an electrical network from scratch in under an hour?
Then welcome to this PowSyBl workshop, hosted by Rte, the French Transmission System Operator (TSO)!
During the webinar, you will discover the PowSyBl ecosystem as well as handle and study an electrical network through an interactive Python notebook.
PowSyBl is an open source project hosted by LF Energy, which offers a comprehensive set of features for electrical grid modelling and simulation. Among other advanced features, PowSyBl provides:
- A fully editable and extendable library for grid component modelling;
- Visualization tools to display your network;
- Grid simulation tools, such as power flows, security analyses (with or without remedial actions) and sensitivity analyses;
The framework is mostly written in Java, with a Python binding so that Python developers can access PowSyBl functionalities as well.
What you will learn during the webinar:
- For beginners: discover PowSyBl's functionalities through a quick general presentation and the notebook, without needing any expert coding skills;
- For advanced developers: master the skills to efficiently apply PowSyBl functionalities to your real-world scenarios.
Builder.ai Founder Sachin Dev Duggal's Strategic Approach to Create an Innova...Ramesh Iyer
In today's fast-changing business world, Companies that adapt and embrace new ideas often need help to keep up with the competition. However, fostering a culture of innovation takes much work. It takes vision, leadership and willingness to take risks in the right proportion. Sachin Dev Duggal, co-founder of Builder.ai, has perfected the art of this balance, creating a company culture where creativity and growth are nurtured at each stage.
Accelerate your Kubernetes clusters with Varnish CachingThijs Feryn
A presentation about the usage and availability of Varnish on Kubernetes. This talk explores the capabilities of Varnish caching and shows how to use the Varnish Helm chart to deploy it to Kubernetes.
This presentation was delivered at K8SUG Singapore. See https://feryn.eu/presentations/accelerate-your-kubernetes-clusters-with-varnish-caching-k8sug-singapore-28-2024 for more details.
JMeter webinar - integration with InfluxDB and GrafanaRTTS
Watch this recorded webinar about real-time monitoring of application performance. See how to integrate Apache JMeter, the open-source leader in performance testing, with InfluxDB, the open-source time-series database, and Grafana, the open-source analytics and visualization application.
In this webinar, we will review the benefits of leveraging InfluxDB and Grafana when executing load tests and demonstrate how these tools are used to visualize performance metrics.
Length: 30 minutes
Session Overview
-------------------------------------------
During this webinar, we will cover the following topics while demonstrating the integrations of JMeter, InfluxDB and Grafana:
- What out-of-the-box solutions are available for real-time monitoring JMeter tests?
- What are the benefits of integrating InfluxDB and Grafana into the load testing stack?
- Which features are provided by Grafana?
- Demonstration of InfluxDB and Grafana using a practice web application
To view the webinar recording, go to:
https://www.rttsweb.com/jmeter-integration-webinar
UiPath Test Automation using UiPath Test Suite series, part 4DianaGray10
Welcome to UiPath Test Automation using UiPath Test Suite series part 4. In this session, we will cover Test Manager overview along with SAP heatmap.
The UiPath Test Manager overview with SAP heatmap webinar offers a concise yet comprehensive exploration of the role of a Test Manager within SAP environments, coupled with the utilization of heatmaps for effective testing strategies.
Participants will gain insights into the responsibilities, challenges, and best practices associated with test management in SAP projects. Additionally, the webinar delves into the significance of heatmaps as a visual aid for identifying testing priorities, areas of risk, and resource allocation within SAP landscapes. Through this session, attendees can expect to enhance their understanding of test management principles while learning practical approaches to optimize testing processes in SAP environments using heatmap visualization techniques
What will you get from this session?
1. Insights into SAP testing best practices
2. Heatmap utilization for testing
3. Optimization of testing processes
4. Demo
Topics covered:
Execution from the test manager
Orchestrator execution result
Defect reporting
SAP heatmap example with demo
Speaker:
Deepak Rai, Automation Practice Lead, Boundaryless Group and UiPath MVP
Essentials of Automations: Optimizing FME Workflows with ParametersSafe Software
Are you looking to streamline your workflows and boost your projects’ efficiency? Do you find yourself searching for ways to add flexibility and control over your FME workflows? If so, you’re in the right place.
Join us for an insightful dive into the world of FME parameters, a critical element in optimizing workflow efficiency. This webinar marks the beginning of our three-part “Essentials of Automation” series. This first webinar is designed to equip you with the knowledge and skills to utilize parameters effectively: enhancing the flexibility, maintainability, and user control of your FME projects.
Here’s what you’ll gain:
- Essentials of FME Parameters: Understand the pivotal role of parameters, including Reader/Writer, Transformer, User, and FME Flow categories. Discover how they are the key to unlocking automation and optimization within your workflows.
- Practical Applications in FME Form: Delve into key user parameter types including choice, connections, and file URLs. Allow users to control how a workflow runs, making your workflows more reusable. Learn to import values and deliver the best user experience for your workflows while enhancing accuracy.
- Optimization Strategies in FME Flow: Explore the creation and strategic deployment of parameters in FME Flow, including the use of deployment and geometry parameters, to maximize workflow efficiency.
- Pro Tips for Success: Gain insights on parameterizing connections and leveraging new features like Conditional Visibility for clarity and simplicity.
We’ll wrap up with a glimpse into future webinars, followed by a Q&A session to address your specific questions surrounding this topic.
Don’t miss this opportunity to elevate your FME expertise and drive your projects to new heights of efficiency.
Designing Great Products: The Power of Design and Leadership by Chief Designe...
Forecasting and various_methods
1. Forecasting is the process of making statements about events
whose actual outcomes (typically) have not yet been observed.
A commonplace example might be estimation of some variable
of interest at some specified future date. Prediction is a similar,
but more general term. Both might refer to formal statistical
methods employing time series, cross-sectional or longitudinal
data, or alternatively to less formal judgemental methods. Usage
can differ between areas of application: for example, in
hydrology, the terms "forecast" and "forecasting" are sometimes
reserved for estimates of values at certain specific future times,
while the term "prediction" is used for more general estimates,
such as the number of times floods will occur over a long
period.
Risk and uncertainty are central to forecasting and prediction; it
is generally considered good practice to indicate the degree of
uncertainty attaching to forecasts. In any case, the data must be
up to date in order for the forecast to be as accurate as
possible.[1]
Categories of forecasting methods
Qualitative vs. quantitative methods
Qualitative forecasting techniques are subjective, based on the
opinion and judgment of consumers, experts; they are
appropriate when past data are not available. They are usually
applied to intermediate- or long-range decisions. Examples of
qualitative forecasting methods are[citation needed]
informed opinion
and judgment, the Delphi method, market research, and
historical life-cycle analogy.
2. Quantitative forecasting models are used to forecast future data
as a function of past data; they are appropriate when past data
are available. These methods are usually applied to short- or
intermediate-range decisions. Examples of quantitative
forecasting methods are[citation needed]
last period demand, simple
and weighted N-Period moving averages, simple exponential
smoothing, and multiplicative seasonal indexes.
Naïve approach
Naïve forecasts are the most cost-effective objective forecasting
model, and provide a benchmark against which more
sophisticated models can be compared. For stationary time
series data, this approach says that the forecast for any period
equals the historical average. For time series data that are
stationary in terms of first differences, the naïve forecast equals
the previous period's actual value.
Time series methods
Time series methods use historical data as the basis of
estimating future outcomes.
Moving average
Weighted moving average
Kalman filtering
Exponential smoothing
Autoregressive moving average (ARMA)
Autoregressive integrated moving average (ARIMA)
e.g. Box-Jenkins
3. Extrapolation
Linear prediction
Trend estimation
Growth curve
Causal / econometric forecasting methods
Some forecasting methods use the assumption that it is possible
to identify the underlying factors that might influence the
variable that is being forecast. For example, including
information about climate patterns might improve the ability of
a model to predict umbrella sales. This is a model of seasonality
which shows a regular pattern of up and down fluctuations. In
addition to climate, seasonality can also be due to holidays and
customs; for example, one might predict that sales of college
football apparel will be higher during the football season than
during the off season.[2]
Causal forecasting methods are also subject to the discretion of
the forecaster. There are several informal methods which do not
have strict algorithms, but rather modest and unstructured
guidance. Alternatively, one can forecast based on, for example,
linear relationships. If one variable is linearly related to the other
for a long enough period of time, it may be beneficial to
extrapolate such a relationship into the future.
Causal methods include:
Regression analysis includes a large group of methods that
can be used to predict future values of a variable using
information about other variables. These methods include
4. both parametric (linear or non-linear) and non-parametric
techniques.
Autoregressive moving average with exogenous inputs
(ARMAX)[3]
Quantitative forecasting models are often judged against each
other by comparison of their in-sample or out-of-sample mean
square error, although some researchers have advised against its
use.[4]
Judgmental methods
Judgmental forecasting methods incorporate intuitive
judgements, opinions and subjective probability estimates.
Composite forecasts
Delphi method
Forecast by analogy
Scenario building
Statistical surveys
Technology forecasting
Artificial intelligence methods
Artificial neural networks
Group method of data handling
Support vector machines
Often these are done today by specialized programs loosely
labeled
Data mining