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Sales Prediction using Time and Other Factors

Alteryx Partner

Hello Community,

 

I have a requirement to predict Sales data. I have used Time Series models like ARIMA, but it considers only Time factor to predict the values. Say, I want to consider holidays or climate conditions etc to forecast the data, how would I do the forecast? I tried with Boosted Model, but it's not that accurate and it is not successful in considering the time factor.

 

Is there any model which can consider both time and other factors and predict accurately ? Highly appreciate your valuable inputs.

 

Thanks 

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Alteryx
Alteryx

Hi @maryas 

 

I'd strongly recommend going through the training we have built here, as it's a great intro to time series modelling.

 

I believe what you would want to investigate is the ARIMA model with covariates. This is the name given to the extra variables that can impact the prediction.

 

It's a check box options just below the target field in the ARIMA model tool.

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