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how to pick up a regression model and forecast future numbers

KasiaH
5 - Atom

Hi Guys,

I use Alteryx for a while, but just started to use predictive tools. I want to create a mode and estimate the future rate
In my database I have given historical rate, correlated with the age, value and year. I also have future value and age but need to estimate the rate. (file attached)
To be honest I am not even sure how I should start. I tried to use numbers of regressions and then compared them but still I am not sure if this is correct way to do this. My workflow looks like that:

KasiaH_0-1581611565097.png

 


I have that model in excel, I used the trend line and pick up the best one and then used given formula to predict future outputs.
And it looks like that

KasiaH_1-1581611578138.png

 


Tried to recreate it and learn how to do something similar in the future – how to pick up the correct model and then how to predict the future numbers. Does anyone have a tip or idea?
Thanks!
Kasia

1 REPLY 1
ianwi
Alteryx Alumni (Retired)

Hi Kasia,

 

If you are looking for a guide to get started with predictive modeling, the Data Science Learning Path on community provides an overview of the modeling process, some Data Investigation techniques, and a quick overview of the algorithms available in Designer. That should give you a good baseline to decide which model(s) to experiment with and whether or not they are performing as you expect.