From the course: Tableau Certified Data Analyst Cert Prep
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Forecasting models - Tableau Tutorial
From the course: Tableau Certified Data Analyst Cert Prep
Forecasting models
- [Instructor] The biggest question in business is probably what is going to happen in the future? Fortunately, Tableau hands us a few tools to try and predict exactly that. One such tool is forecasting. You can add a forecast to a view when there is at least one data dimension and one measure in the view. We are using the sum of total price per continuous month of our date of purchase. Forecast algorithms try to find a regular pattern in measures that can be continued into the future. Forecasting in Tableau uses a technique known as exponential smoothing. It uses weighted averages to compute the forecast while giving more recent values a greater weight. Let's go to the analytics pane and drag our forecast into the view. You can see that Tableau draws a forecast line. The shaded area shows the 95% prediction interval for the forecast. This means that the model has determined a 95% likelihood that the value of our total price will be within this shaded area for the forecast period…
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