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How to create a forecast using Alma Analytics Data Visualization (DV)

In this blog post we will be using Alma Analytics Data Visualization (DV) to create a forecast.

We will do this using OAS (Oracle Analytics Server) Data Visualization, specifically how it is used with Alma in the framework of Alma Analytics.

In the example here we will be creating a forecast in which we

  1. Use the Funds Expenditure Subject Area
  2. Compare expenditure amounts for physical and electronic materials over the past years and predicting 3 periods into the future
  3. Use the forecast model ARIMA (AutoRegressive Integrated Moving Average).

The same method used here can be used for other measures in other subject areas.

ONE

Access the Data Visualization and create a project

TWO

Choose the Funds Expenditure Subject Area

FOUR

Create a line graph.

In the Y axis put:

  • Transaction expenditure amount of type physical format
  • Transaction expenditure amount of type electronic format

In the X axis put:

  • Transaction Date Year

Filter by Transaction Date Year between 2000 and 2019 (so we have complete years)

FIVE

Right click the graph and choose to Add Statistics > Forecast

SIX

In lower left pane choose forecast model ARIMA and periods 3

SEVEN

View results and see the forecast for the next three years

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