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Thursday, May 18, 2017

Forecasting and Machine learning

Very nice piece on the SAS blog.   Which naturally points out a number of SAS tools and their connection to what are now called AI.   Am a long time practitioner of forecasting methods.

Straight talk about forecasting and machine learning  

By Charlie Chase on SAS Voices May 18, 2017 Advanced Analytics | Analytics | Machine Learning
Are you caught up in the machine learning forecasting frenzy? Is it reality or more hype?  

There's been a lot of hype about using machine learning for forecasting. And rightfully so, given the advancements in data collection, storage, and processing along with technology improvements, such as super computers and more powerful software. There's no reason why machine learning can't be used as another forecasting method among the array of existing forecasting methods.

At SAS we're fortunate to have some of the top domain experts in forecasting, predicative analytics and machine learning. As the leaders in predictive analytics and machine learning, according to the recent The Forrester Wave™: Predictive Analytics and Machine Learning Solutions, Q1 2017, SAS domain experts were working with multilayer neural networks 30 years ago. .... " 

See also related, a free 41 page paper, the Evolution of Analytics,  ... "  Opportunities and Challenges for Machine Learning in Business ... "   a SAS publication.

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