Alteryx Designer Desktop Discussions

Find answers, ask questions, and share expertise about Alteryx Designer Desktop and Intelligence Suite.

Forecasting methods for New Online Business

prateeksoti
5 - Atom

Looking to understand more on building forecasting models for new products in online business.

Considering there are lot of fluctuations in online sales so looking for any initial recommendation to approach it.

1 REPLY 1
alexnajm
17 - Castor
17 - Castor

Within Alteryx you have two methods - ARIMA and ETS. The main difference is that if you want to introduce other variables besides time into your model, you would use ARIMA. But either way you could build multiple models and compare them with the TS Compare tool to see which one is better.

 

For new products, it's always a challenge since Time Series relies on past sales to predict future sales. Try using the TS Plot tool to evaluate your initial data set and see what trends/seasonality you are getting.

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