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.
See also the following YouTube video: Alma Analytics: Creating a forecast with Alma Analytics Data Visualization
In the example here we will be creating a forecast in which we
- Use the Funds Expenditure Subject Area
- Compare expenditure amounts for physical and electronic materials over the past years and predicting 3 periods into the future
- Use the forecast model ARIMA (AutoRegressive Integrated Moving Average).
The same method used here can be used for other measures in other subject areas.
Access the Data Visualization and create a project
Choose the Funds Expenditure Subject Area
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
Right click the graph and choose to add a forecast
In lower left pane choose forecast model ARIMA and periods 3
View results and see the forecast for the next three years