Forecasting accuracy is a critical element in decision-making processes for any business. In this video, DataRobot showcases the enhanced power of its AI platform when coupled with Ready Signal’s external feature store. The result? A staggering 13% improvement in forecast accuracy in minutes. This video illustrates the immense potential of integrating external data seamlessly into predictive models.
The Power of Integration:
DataRobot’s AI Platform is an industry leader for its ability to create, deploy, and maintain high impact forecast models. Ready Signal’s external data platform seamlessly integrates with its modeling engine, acting as a Feature Store with over 500 normalized, aggregated, and automatically updated external data sets.
Watch the Demo:
Experience the integration for yourself by watching the demo below:
The video walks through a practical example of leveraging Ready Signal’s external data in conjunction with DataRobot’s time series capabilities. The presenter demonstrates a no-code approach, emphasizing the ease with which users can integrate external data into their forecasting models.
- Accessing External Data: The presenter logs into Ready Signal and accesses a signal with 34 external features, including economic indicators, weather, and demographic data.
- Data Extraction: The external data is easily extracted as a flat file, enabling users to seamlessly blend it with their existing internal data. (also available via API)
- Data Integration: The presenter illustrates the process of joining the external data from Ready Signal with the original dataset, adding 34 additional columns for a more comprehensive set of features.
- Model Training: Two sets of models are trained – one with only the original private data and another with the additional external data from Ready Signal.
- Results Analysis: DataRobot’s automated processes yield models with varying levels of accuracy. The presenter compares the model’s performance, revealing a remarkable 13% improvement in Mean Absolute Scaled Error (MASE) when external data is integrated.
The video highlights key findings from the analysis, displaying the impact of external data on forecast accuracy. Notable contributors to the improvement include weighted influenza-like illness national summary, actual rainfall, and foreign exchange rates.
DataRobot and Ready Signal: Enhance Forecast Accuracy
The collaboration between DataRobot and Ready Signal proves to be a game-changer in the realm of forecasting. By seamlessly integrating external features, users can significantly enhance the accuracy of their models, enabling more informed decision-making.
In a world where data-driven decisions are paramount, the collaboration between DataRobot and Ready Signal provides a powerful solution for organizations seeking to elevate their forecasting capabilities.