Knowledge Studio supports Autoregressive Integrated Moving Average (ARIMA) models, a powerful way to make accurate predictions based on time series data. You can add ARIMA models to your AI workflows with a fully menu-driven user interface. The software’s Auto ARIMA functions automatically estimate values for ARIMA parameters using a grid search or step-wise algorithm. ARIMA is a simple yet powerful method for making time series forecasts, often incorporating seasonal and other types of semi-regular variations. For example, you can use ARIMA models to forecast electricity and raw materials utilization in a factory, output volumes in an oil refinery, fuel consumption for truck fleet, rail, and seaborne shipping companies, patient churn and intake volumes in hospitals, and key financial indicators for any type of business.
This video was produced using Knowledge Studio 2021.1.