Examples of this may include using future promotional spend to help predict next month’s sales of a soft drink.Ī crucial feature of the IBM SPSS Forecasting module is the Expert Modeller.
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Although independent variables are not essential, time series analysis can make use of these predictor fields to increase the accuracy of the predictions. In other words, in time series, the past provides a model for the future. For this reason, the time factor, is in itself, a predictor of the dependent variable. Unlike regression techniques, in time series each of the cases are related to each other, as they represent the same phenomena over time. Estimating passenger numbers for a train company.Predicting demand for a gas or electricity supplier.Forecasting the number of patients visiting the accident and emergency department.Predicting the number of staff required on each day for a call centre.Examples of time series forecasting include: Time series forecasting is the use of a model to predict future events based on known past events. A time series is a set of observations obtained by measuring a single variable regularly over time. IBM SPSS Forecasting is the SPSS time series module. Operating systems supported: Windows, Mac, Linux.Write scripts so that models can be updated with new data automatically.Save models to a central file so that forecasts can be updated when data changes, without having to re-set parameters or re-estimate models.Model hundreds of different time series at once, rather than having to run the procedure for one variable at a time.Automatically determine the best-fitting ARIMA or exponential smoothing model to analyse your historic data.Analyse historical data and predict trends faster, and deliver information in ways that your organisation’s decision-makers can understand and use.Unlike spreadsheet programs, IBM SPSS Forecasting has the advanced statistical techniques needed to work with time-series data regardless of your level of expertise. Reliable forecasts can have a major impact on your organisation’s ability to develop and implement successful strategies. IBM SPSS Forecasting Two minute module overview What’s in the Forecasting module?