Book Image

Codeless Time Series Analysis with KNIME

By : KNIME AG, Corey Weisinger, Maarit Widmann, Daniele Tonini
Book Image

Codeless Time Series Analysis with KNIME

By: KNIME AG, Corey Weisinger, Maarit Widmann, Daniele Tonini

Overview of this book

This book will take you on a practical journey, teaching you how to implement solutions for many use cases involving time series analysis techniques. This learning journey is organized in a crescendo of difficulty, starting from the easiest yet effective techniques applied to weather forecasting, then introducing ARIMA and its variations, moving on to machine learning for audio signal classification, training deep learning architectures to predict glucose levels and electrical energy demand, and ending with an approach to anomaly detection in IoT. There’s no time series analysis book without a solution for stock price predictions and you’ll find this use case at the end of the book, together with a few more demand prediction use cases that rely on the integration of KNIME Analytics Platform and other external tools. By the end of this time series book, you’ll have learned about popular time series analysis techniques and algorithms, KNIME Analytics Platform, its time series extension, and how to apply both to common use cases.
Table of Contents (20 chapters)
1
Part 1: Time Series Basics and KNIME Analytics Platform
7
Part 2: Building and Deploying a Forecasting Model
14
Part 3: Forecasting on Mixed Platforms

Chapter 12: Predicting Taxi Demand on the Spark Platform

Demand prediction is one of the most popular applications of time series analysis. We can predict, for example, the demand for electricity in households, restock in the retail industry, and taxi drives in a large city. Regardless of the application, the idea is the same: use historical data and possibly some external information to predict the future demand. Then, use the predictions to optimize the supply chain or service management. What varies between the applications is the length of the forecast horizon and the granularity of the historical data. While restocks might be planned for the upcoming months based on daily data, the size of a taxi fleet might be adjusted for the next days or even hours, based on hourly data.

Therefore, different demand prediction applications work on very different data volumes. Historical data that adds up every hour or minute will likely result in a much larger volume than data that updates...