What is 'autoregressive model' in SAP BI-RA-PA - SAP Predictive Analytics?

autoregressive model - Overview

• Component: BI-RA-PA

• Component Name: SAP Predictive Analytics

• Description: Type of random process which is often used to model and predict various types of natural phenomena.

autoregressive model - Details

• 
  Key Concepts: 
  An autoregressive model is a type of statistical model used in predictive analytics. It is used to predict future values of a variable based on its past values. Autoregressive models are commonly used in forecasting and time series analysis.
  
  How to use it: 
  Autoregressive models can be used in SAP Predictive Analytics to forecast future values of a variable. The model uses the past values of the variable to predict its future values. The model can also be used to identify patterns in the data and detect anomalies.
  
  Tips & Tricks: 
  When using an autoregressive model, it is important to ensure that the data is stationary. This means that the mean and variance of the data should remain constant over time. If the data is not stationary, it can lead to inaccurate predictions.
  
  Related Information: 
  Autoregressive models are related to other types of predictive analytics models such as linear regression and neural networks. These models can be used in combination with autoregressive models to improve accuracy and provide more detailed predictions.