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Predict revenue for next two years

Alteryx Certified Partner

Dear All,

 

Is there a possibility to predict for next two years-2017 and 2018 with the following data? For Revenue, COGS and Gross profit?

I want to use ARIMA.

 

Please find the data below:

 

 

2013

2014

2015

2016

Revenue

10,000

15,000

20,000

25,000

COGs

5000

10,000

15,000

20,000

Gross Profit

5,000

5,000

5,000

5,000

 

Please advise.

 

Thank you in advance.

Farhana

Bolide
Bolide

Hi @farhana_91 

 

As with most of the predictive tools here, they're very easy to get working, you just need to be wary of the: way your data looks; ways in which you're configuring the tools; you're interpreting the results. 

There's not a huge amount of data here (do you have more?), and in my experience these work better when looking at a week/month/quarter level, but I've included a short example against your data (with a few years already added) attached here. The key is to ensure your years are in rows, and you tell the model that you're working in years:

ARIMA.PNG

 

 

 

For further info, I'd recommend going into your Designer and clicking Help -> Sample Workflows -> Predictive Tool Samples -> Predictive analytics -> 15 Time Series which has some great examples of all those tools 

Hope that helps and gives you  a start point at least! 

 

Andy 

Inactive User
Not applicable

Yes you can do ARIMA all you need is 2 records. Also, there is no point in my opinion of forecasting COGs or Profit because they are directly correlated to Revenue. Just Revenue would suffice and then proportionate the expenses based on history from that predicted value.

Highlighted
Alteryx Certified Partner

Thanks Andy! This works for me as of now! 

Alteryx Certified Partner

Agreed! Thanks Ryan!

Bolide
Bolide

Great, pleased it worked! 

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