Automated Time Series
Time Series Modeling
The goal of time series modeling is to predict future performance from past behavior – such as forecasting sales over a holiday season, predicting how much staff you need for the upcoming week, or ensuring inventory meets manufacturing demands without overstocking.
Unfortunately, time series modeling can be a complex and laborious process because many historical events can impact the current predictions, and finding the most influential signals is difficult. As the environment changes, such as after introducing a new product or a competitor opening a new store, these models need to be manually re-built. Until now.
Time Series Automation
DataRobot integrates best practices in time series modeling, including automating time series feature engineering to discover predictive signals. It also automatically detects stationarity, seasonality, transforms the target, and implements backtesting to achieve the highest possible accuracy.
Beyond essential and proven times series methods like ARIMA and Facebook Prophet, DataRobot includes advanced time series models that help you achieve even higher forecasting accuracy.
Since the goal of a time series model is to both extract understanding and predict future outcomes, DataRobot offers many ways to visualize insights over time and to deploy models to production - including full API support to integrate modeling into business processes and applications.
We have data – a lot of data – and we want to use it to our advantage. DataRobot has the tools to help us take historical data, manipulate it, and learn from it. We’ve already experienced tremendous cost and time savings with DataRobot, and these latest advancements will further transform how we forecast nurse staffing and patients’ length of stay—both of which will yield significant benefits for our hospital network.
Time series machine learning has historically resisted automation. Having worked with DataRobot’s time series product for the past several months, including delivering real financial applications, I’m amazed at what is possible and how easily models can be built.