Data Science Book Review: Forecasting

November 22, 2016 by
Filed under: Uncategorized 

Pageflex Persona [document: PRS0000045_00027]While working on forecasting (understand “time series analysis”) I found several interesting and state of the art articles from Rob J. Hyndman. He is the co-author, with George Athanasopoulos of Forecasting: Principles and Practice. This is an excellent concise and comprehensive text explaining concepts behind forecasting, common algorithms and how to implement them in R (for a business view of forecasting, I advise Future Ready).

The book presents key concepts of forecasting. From judgemental forecasting (which can be useful when you have no or few data) to simple/multiple regression, time series decomposition, exponential smoothing (ETS), ARIMA and a few more advanced topics such as Neural Networks. I would suggest to the author to add Support Vector Regression (SVR) and ensemble learning for the next edition of the book. Each concept of the book is covered through examples with real data. What is most appreciable about the book is how concise and readable it is. Each sentence is useful to understand the described concept, nothing superfluous.

The book contains good overview and schema about each technique and how to set their meta-parameters. The R codes are well presented, concise and easy to implement and test. The book can easily be used to teach forecasting since each chapter contains exercises. In conclusion, Forecasting: Principles and Practice is THE book to learn time series analysis algorithms and how to implement them.



2 Comments on Data Science Book Review: Forecasting

  1. Sophie seo on Fri, 9th Dec 2016 10:42 pm
  2. Very very intéresting great job to be continued.

  3. Phau thuat nang nguc noi soi on Wed, 18th Jan 2017 5:58 am
  4. Ky thuat nang vong 1 tai Lavender cung duoc truc tiep thuc hien boi doi ngu bac si giau kinh nghiem tung tu nghiep nhieu nam tai Han Quoc cung voi su ho tro cua thiet bi noi soi hien dai nho do bac si co the xem toan bo cau truc ben trong khoang nguc va tien hanh chinh xac ky thuat dat tui mang den giup cho ban

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