You're reading from Codeless Deep Learning with KNIME

Product typeBook

Published inNov 2020

Reading LevelIntermediate

PublisherPackt

ISBN-139781800566613

Edition1st Edition

Languages

Python

Tools

Knime

Concepts

Deep Learning

Authors (3):

Kathrin Melcher

KNIME AG

Rosaria Silipo

View More author details

The Demand Prediction Problem

Let's continue then by exploring a demand prediction problem and how it can be treated as a time series analysis problem.

Demand prediction is a task related to the need to make estimates about the future. We all agree that knowing what lies ahead in the future makes life much easier. This is true for life events as well as, for example, the prices of washing machines and refrigerators, or demand for electrical energy in an entire city. Knowing how many bottles of olive oil customers will want tomorrow or next week allows for better restocking plans in retail stores. Knowing of a likely increase in the demand for gas or diesel allows a trucking company to better plan its finances. There are countless examples where this kind of knowledge of the future can be of help.

Demand Prediction

Demand prediction, or demand forecasting, is a big branch of data science. Its goal is to make estimations about future demand using historical data and possibly...

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Codeless Deep Learning with KNIME

Published in: Nov 2020Publisher: PacktISBN-13: 9781800566613

Authors (3)

Kathrin Melcher

Kathrin Melcher is a data scientist at KNIME. She holds a master's degree in mathematics from the University of Konstanz, Germany. She joined the evangelism team at KNIME in 2017 and has a strong interest in data science and machine learning algorithms. She enjoys teaching and sharing her data science knowledge with the community, for example, in the book From Excel to KNIME, as well as on various blog posts and at training courses, workshops, and conference presentations.
Read more about Kathrin Melcher

KNIME AG

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You're reading from Codeless Deep Learning with KNIME

The Demand Prediction Problem

Demand Prediction

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