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.
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.
Time Series Analysis in Industries
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.
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
- INFORMATION TECHNOLOGY
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.
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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