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Error Metrics: How to Evaluate Your Forecasts

Jedox

When considering the performance of any forecasting model, the prediction values it produces must be evaluated. An error metric is a way to quantify the performance of a model and provides a way for the forecaster to quantitatively compare different models 1. Where y’ is forecasted value and y is the true value.

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Better Forecasting with AI-Powered Time Series Modeling

DataRobot Blog

AI-powered Time Series Forecasting may be the most powerful aspect of machine learning available today. Working from datasets you already have, a Time Series Forecasting model can help you better understand seasonality and cyclical behavior and make future-facing decisions, such as reducing inventory or staff planning.

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Manage the Demand of Stress Testing in Financial Services

Cloudera

Stress testing is a particular area that has become even more important throughout the pandemic. Stress tests conducted by authorities such as the Federal Reserve Bank in the US are designed to keenly monitor the financial stability of the banking sector, especially during economic downturns such as those brought on by the pandemic.

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Get Creative with AI Forecasting in Changing Economic Conditions

DataRobot Blog

This has prompted AI/ML model owners to retrain their legacy models using data from the post-COVID era, while adapting to continually fluctuating market trends and thinking creatively about forecasting. Unlocking New Business Opportunities with AI Forecasting. In fact, 87% of organizations struggle with long deployment timelines.

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Humans-in-the-loop forecasting: integrating data science and business planning

The Unofficial Google Data Science Blog

ln this post he describes where and how having “humans in the loop” in forecasting makes sense, and reflects on past failures and successes that have led him to this perspective. Our team does a lot of forecasting. It also owns Google’s internal time series forecasting platform described in an earlier blog post.

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10 Examples of How Big Data in Logistics Can Transform The Supply Chain

datapine

Your Chance: Want to test a professional logistics analytics software? Your Chance: Want to test a professional logistics analytics software? Domino’s Pizza, for instance, uses operational demand forecasting to deliver on its ‘ 30 minutes or less’ policy – a USP that has cemented the brand’s success in a saturated marketplace.

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How to Manage Risk with Modern Data Architectures

Cloudera

To ensure the stability of the US financial system, the implementation of advanced liquidity risk models and stress testing using (MI/AI) could potentially serve as a protective measure. Financial institutions can use ML and AI to: Support liquidity monitoring and forecasting in real time.