Session 16: How the Analytics Wave is Reenergizing Forecasting

Mike Watson & Cyrus Safaie , Partner & Sr. Data Scientist, Opex Analytics

A focus on forecasting solutions has seemingly re-emerged overnight. Although an age old practice, it is has worked its way back into the ‘hot topic’ category for companies across all industries. Classical forecasting methods, such as Regression, Autoregressive Integrated Moving Average (ARIMA), Exponential Smoothing (ETS), and many others have been adding a sufficient amount of value for many decades. However, many new machine learning algorithms are now readily available through open source environments such as R and Python. Facebook and Amazon have made their forecasting engines available to the public. Deep neural networks (Artificial Intelligence) continue to advance. Not to mention,data availability, which allows us to consider many new features. All these advances, in just the last few years, have re-energized the field of forecasting.

This session will take you through the details of what is new and why you may want to rethink how and what you are forecasting today.