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With time series analysis, you can recognize patterns, forecast trends, and analyze seasonal changes to your data. This can help you better understand the factors that influence your data.
Forecasting in Bold BI
Now, you can use Bold BI to predict trends in your data. Our exponential smoothing model uses the weighted average of past data points to forecast future outcomes.
Also, you can add a trendline to your data series to easily perform regression analysis. We offer Linear, Exponential, Logarithmic, Power, and Polynomial trendlines to suit all your needs.
Any AI or ML use case goes through such a life cycle. Using Syncfusion’s Data Integration Platform, the ETL process to extract data from a source, transform/process it by running python machine learning scripts as scheduled and export the resultant data to the SQL server can be done with ease. This helps visualize data into meaningful insights in Bold BI.
Time Series Analysis in Industries
Production Cost
In the manufacturing industry, you need to meet production goals while reducing rework, repairs, and labor costs. Use time series analysis to predict your plant’s equipment and personnel needs, reducing production and overtime costs by ensuring you’re prepared to meet customers’ needs.
Website User Interactivity Metrics
Marketing teams need to track various KPIs, including metrics relating to website user interactivity and seasonal variations in user activity. With time series analysis, marketing professionals can create action plans to reduce bounce and dormancy rates and increase their search engine rankings.
Cab Booking
Accurately forecasting customer demand is critical in the transportation industry. For example, time series analysis can help companies plan taxicab and driver availability. Plus, with Bold BI’s drill-down feature, you can view even more detailed breakdowns of your data with a simple click.
Time Series Analysis in Departments
Project Monthly Expenses
In the information technology industry, it is crucial for each department to track project costs. For example, with a stacked view widget such as a bar chart, you can easily compare monthly expenses such as administrative, development, infrastructure, maintenance, and support costs.
Bold BI for Time Series Analysis – Common Metrics
With Bold BI’s user-friendly, fully customizable dashboards, you can track all the key performance indicators that your team depends on:
Sales forecasts
Projected revenue
Production costs
Inventory projections
Consumer utility demands (such as energy consumption and water use)
Website activity metrics
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