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Model Validation for TS Factory

Mozammel
7 - Meteor

How would I go about doing the model validation for the forecast generated by the TS factory. I have also got results using a batch macro for this time series. However I am not sure how I would go about do the model fit test. I do see an example of a lift chart for forest models and regressions. But I am not sure If I can use it for the TS factory. Any suggestions?

1 REPLY 1
BridgetT
Alteryx Alumni (Retired)

Hi @Mozammel,

 

Typically, validation for time series models is done by taking out the last few dates from your data, training your model on the previous dates, and then comparing the predictions for the last few dates you left out to those dates' actual values. This process is a little more tricky if you have multiple groups with different dates, but you could potentially get around it by doing a multi-step filter. At each stage, you'd use the Filter tool under its Custom Filter option to filter out all the records after a certain date that are also in the group you're focusing on at that stage. Then you'd use the TS Factory tools to generate forecasts for the results you left out, and compare the actual results to the predictions.

 

Best,

Bridget

Bridget Toomey

Research Scientist, Analytic Products

Alteryx
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