What is hierarchical forecasting? šŸ§µ

#datascience #timeseries #rstats
Hierarchical forecasting is a unique time series problem with several challenges because of time series dependencies.
An example is Walmart Store Sales from the M5 Competition.

šŸ“ˆ Walmart has stores in each state.

šŸ“‰ Each state has multiple stores.

šŸ“ˆ Each store has multiple departments.

šŸ“‰ Each department has categories of items.

šŸ“ˆ Each category of items has 100s or 1000s of items.
This makes for a large-scale time series problem...

And if you can solve this problem, you become valuable to your (future) organization.
How can I help?

I'm working on a new project called my Lost Time Series Modules, which extends my High-Performance Time Series Course.

And the 5th lost module covers how to do hierarchical forecasting leveraging the top 20 solutions to the M5 Competition.
The lost time series modules are insanely valuable.

5+ hours of expanded time series coding lessons on common yet advanced time series problems.

This includes:
1. Changing demand

Forecasting in recessions and covid when the demand has changed and you have little information to process forecasts from
2. Iterative forecasting

Exposing the new modeltime API for iterative modeling at scale
3. Recursive + Iterative Forecasting

Extending iterative forecasting workflow for regressors and using autoregression with short-term lags [lags < forecast horizon] to eke out additional performance
4. Automatic Forecasting

Discover how to use H2O AutoML to forecast with 100's of models at scale
5. Hierarchical forecasting

Tackle the large-scale forecasting challenge that billion dollar Retail, Energy, and Marketing companies face
In total, you'll get:

1. 1563 lines of advanced time series code

2. 5 modules on advanced time series concepts

3. And 6 hours of expert guidance...

... in just the lost time series modules course.
If you are interested in learning more, I'm giving away the pre-launch Lost Time Series Modules as part of my 5-Course R-Track during our Christmas Sale.

Christmas Sale Ends Friday.
***Christmas Sale: 5-Course R-Track + The Lost Time Series Module***

Save money and get my new lost time series modules for free when you purchase my 5-Course R-Track Half OFF.

learn.business-science.io/christmas

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More from @mdancho84

Dec 24
There are more than 10,685,000 people learning to work with data.

Yet most data science jobs now have over 1000+ applicants.

And only 5 actually make it to an interview.

Use these 4 skills to stand out (free to steal & use to advance your career).

#datascience #rstats Image
1. Time series analysis

Up to 90% of companies need better forecasting.

And less than 5% of data scientists are competent in time series analysis.
So becoming good at time series is a massive advantage.

Demonstrate an application of time series analysis in the interview, and set yourself apart from the crowd.
Read 14 tweets
Dec 22
Can you get a 6-figure job with R in 2023?

Yes.

Here's why. šŸ§µ

#rstats #datascience
With everything going on in the news and the economy, I've been asking myself this question a lot lately.

And like any reasonable person, I have concerns...
What's going to happen?

Will companies begin hiring lower-cost labor?

Will consulting take over as the gig economy picks up steam?

How do I get through this uncertainty?
Read 13 tweets
Dec 12
Bold prediction for 2023...

The Birth Of The Business Scientist.

Here's what is about to happen.šŸ§µ

#datascience #rstats Image
According to Glassdoor research, we already have:
- Data Analyst, $71,298/yr
- Business Analyst, $83,924/yr
- Data Scientist, $124,680/yr
But noticeably missing is the "Business Scientist".

So what is a "Business Scientist"?

And why are we about to see the birth of this new role?
Read 10 tweets
Dec 9
This used to be me when I was first learning linear regression. šŸ˜‚

But here's what's changed for me. šŸ§µ

#datascience #rstats #stats
I always thought it was funny how in the stats books, they'd always tell you of this magical P-Value level of 0.05.

You either reject (p > 0.05) or fail to reject (keep it when p <= 0.05).

So naturally, I'd do whatever I could to get my p-values under 0.05.

So what changed?
I started learning machine learning and actually seeing that my model performance would improve with features that had p-values greater than 0.05.

Wait, what?!
Read 10 tweets
Dec 9
What is a Business Scientist? šŸ§µ

#datascience
Iā€™m seeing an underground trend forming in data jobs.

A high focus on data with a lack of:
1. Building

Lack of building products that companies can use to make decisions
Read 14 tweets
Dec 8
Bold Prediction for 2023 - #ChatGPT has almost no impact on businesses...

Here's why šŸ§µ

#datascience #stats Image
While everyone's playing around with ChatGPT, here's what's about to happen that will actually change 2023

It's the "Birth of the Business Scientist". Image
Listen, ChatGPT is great, and may make you more productive at work....

But, businesses actually need strategic thinkers (and that's really tough to automate).
Read 13 tweets

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