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Data Science & Machine Learning

Time Series Prediction as a Tool for Creating Business Targets

Written by

Amos Kendall, Director of Product on Wednesday , December 28, 2022

Sometimes I work with teams that know that they want to use AI to help guide their business, but they aren’t sure where to start. If the data has a temporal component (and it often does), I turn to time series prediction because it is so simple to do in DataChat, and the business value is immediate. Imagine you have a time series dataset containing the KPI that matters to you. For example, monthly sales data, a report of daily active users, or inventory levels over time.

 

You can use DataChat’s Predict Time Series skill to infer future values of this KPI based on your historical time series data. 

This prediction can be seen as a “business as usual” baseline. Having a baseline like this makes it easy for you to look back and see whether your business has beaten expectations. The ability to beat expectations – especially when the expectations are following a historical trend of improvement – is a great indicator of a high performing team.

DataChat is a cohesive analytics platform that uses natural language to make a broad range of data science tools, including data wrangling, preparation, exploration, visualization, and predictive modeling, accessible to everyone to improve business outcomes. Contact us or schedule a demo to learn more about how DataChat can help you improve your business outcomes.