If you are now reading this section, you have reviewed the basic information described throughout the previous sections of this chapter and established at least a basic understanding of what machine learning entails. You know how Splunk can help you build a ML based model using its latest ML toolkit; and you have also located, downloaded, and installed the Splunk Machine Language Toolkit into your Splunk environment.
Have you? Great! Now let's review a use case that builds a ML model.
Machine learning actually attempts to generalize from provided examples. These generalizations (that's what we call predictive models) can then be used to predict or forecast. In the business world, the need for creating a quality forecast is obvious. A time series forecast is a type of forecast model that is key to predicting future performance based on past events. Specifically, the principal goal of the use of time series forecasting is to observe historical, linear...