Brent Forecast

[matheusoss]

I need help building a projection for Brent crude oil prices over the next 10 years. I have historical data for Brent prices since 1987. How can I achieve this projection in Alteryx?

[matheusoss]

I need help building a projection for Brent crude oil prices over the next 10 years. I have historical data for Brent prices since 1987. How can I achieve this projection in Alteryx?

[albert_alaluf]

@matheusoss IMHO this is not really too much with Alteryx. Alteryx Predictive models use standard R/Python libraries or you can write your own model. The issue is here 10 year period is too much, you should look smaller time period.

[FrederikE]

Hey @matheusoss,

Forecasting values based on past values can be done in Alteryx best with the ARIMA or ETS tool that do a timebased forecasting. 

You have to download and install the (free) predictive tools in order to use them. 

I'd recommend you to check out the sample workflows and the accoring learning path in order to configure the tools correctly. 

[acarter881]

Hey, @matheusoss. 

It sounds like Time Series Forecasting is what you're after.

There are a few Weekly Challenges that utilize the Time Series tool pallette.

#24: ARIMA Time Series

#147: EMEA Grand Prix Prelims - Time Series

These are great challenges and will give you an idea of how to perform time series analysis in Alteryx Designer.

[albert_alaluf]

All provided here, are pretty correct. The models, methods etc... My only point is 10 year is too much for prediction and I'm suspicious on accuracy. As we say 'prediction'. :-)