How can I make an energy forecast by only using 20 years of total energy consumption data ?
krewsjones
New Altair Community Member
I trust all is doing well.
For masters research program I am trying to determine what the future energy consumption will be after the widespread adoption of electric vehicles using machine learning. I collected 20 years of total data for attributes such as, population, GPD, import, export, employment and total energy consumption. How may I create a forecast using only 20 years of available data? If 20 years is not enough data, how could I possibly simulate data if this is an option?
For masters research program I am trying to determine what the future energy consumption will be after the widespread adoption of electric vehicles using machine learning. I collected 20 years of total data for attributes such as, population, GPD, import, export, employment and total energy consumption. How may I create a forecast using only 20 years of available data? If 20 years is not enough data, how could I possibly simulate data if this is an option?
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Answers
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Hi,the question is: How long do you want to forecast? If you have 20 years of data with monthly data and you want to forecast 3 months ahead - sounds doable. If you have 20 years of data and want to forecast 20 years ahead, good luck.Also you may want to research Drift or Change of Concept here. Makes a nice chapter in your thesis.Cheers,Martin1
Altair Employee