cancel
Showing results for 
Search instead for 
Did you mean: 

Forecast Methodlogy

Former Member
0 Kudos

What is Forecast methodology?

How we should decide what forecast methodology is required for particular scenario?Which forecast model is suitable ?

Whether we should go for univariate or MLR ?

Thanks in advance,

Prabhat

Accepted Solutions (0)

Answers (1)

Answers (1)

m_manimaran
Active Contributor
0 Kudos

Hi,

There is no fixed rule for selecting a forecast methodology. That is all depending on your business needs. If you want to forecast on the basis of a single variable (that is single Key figure), then we will use Univariate. If your history pattern is so regular, then you can easily choose a forecast model. But if it is not so regular, then selection of suitable FC model is complicated. For this, we can go for the automatic model selection. The system will do some test to get the correct pattern of the historical value, then it will use that pattern to forecast.

MLR will be used when we have more than one variables to be considered for forecasting.

Regards,

Manimaran M.