Lazy Evaluation of Bulk Forecasts
Evaluation of data models and forecasts is provided, enabling processing of large numbers of forecast scenarios in a production environment. An approach for optimizing the computation for statistical modeling and forecasting is described. This approach includes calculating a recommended number of collected data points, calculating a cap on time to elapse, deciding based on at least one of the recommended number of collected data points and the cap on time to elapse whether to generate a forecast model and generating a forecast model from the collected data points.
1 . A computer-implemented method for optimizing runtime and utilization of computer resources in bulk statistical data modeling and forecasting, the method comprising:
determining a recommended number of collected data points as a function of forecast horizon and data and model quality parameters;
determining a cap on time to elapse as a number proportional to the recommended number of collected data points;
determining, based on at least one of data behavior, the recommended number of collected data points, and the cap on time to elapse, whether to generate a forecast model; and
generating the forecast model from all collected data.
2 . The method of claim 1 , wherein generating the forecast model from the collected data points further comprises employing a control logic for feedback forecasting.
3 . The method of claim 1 , wherein generating a forecast model from the collected data points comprises recalculating at least one of the recommended number of collected data points and the cap on time to elapse.
4 . The method of claim 1 , wherein generating a forecast model from the collected data points comprises adjusting the recommended number of collected data points, responsive to collecting at least one outlier data point.
5 . The method of claim 4 , further comprising recomputing the forecast model responsive to collecting at least two data points past the outlier data point.
6 . The method of claim 1 , wherein deciding whether to generate a forecast model further comprises calculating at least one model parameter.
7 . The method of claim 6 , wherein model parameter comprises at least one of a measure of sample size, a measure of forecast horizon, a measure of model trend, a measure of seasonality, a measure of a degree of correlation, and a measure of forecast quality.
8 . The method of claim 6 , wherein the model parameter contributes to the recommended number of collected data points.
9 . The method of claim 1 , wherein the cap on time to elapse is proportional to the recommended number of collected data points.
10 . The method of claim 1 , wherein deciding whether to generate a forecast model further comprises at least one of:
determining whether the forecast model to be generated is the first such model;
determining whether the number of collected data points since the previous forecast model is greater that the recommended number of collected data points calculated for the previous forecast model;
determining whether the number of collected data points since the previous forecast model is less that the recommended number of collected data points calculated for the previous forecast model but the cap on time to elapse has expired and there exists at least one collected data point since the cap on time to elapse expired; and
determining based on the collected data points whether an unscheduled forecast model needs to be generated.
11 . The method of claim 10 , wherein the unscheduled forecast model is generated responsive to an insufficient number of collected data points in an earlier forecast model and the subsequent availability of sufficient collected data points within a desired confidence level.
12 . The method of claim 10 , wherein the unscheduled forecast model is generated responsive to the collected data points deviating significantly from patterns predicted by an earlier forecast model.
13 . The method of claim 1 , further comprising scenarios corresponding to collected data points, the scenarios that need forecasting at a higher priority determined by a ranking system.
14 . The method of claim 13 , wherein the rank is based on at least one of a recommended number of collected data points, a forecaster's preference, and a completion of an earlier forecast.
15 . A computer program product having computer-readable medium having computer program instructions embodied therein for integrating the computation for optimizing runtime and utilization of computer resources in bulk statistical data modeling and forecasting, the computer program product comprising computer program instructions for:
determining a recommended number of collected data points as a function of forecast horizon and data and model quality parameters;
determining a cap on time to elapse as a number proportional to the recommended number of collected data points;
determining, based on at least one of data behavior, the recommended number of collected data points, and the cap on time to elapse, whether to generate a forecast model; and
generating the forecast model from all collected data.
16 . The computer program product of claim 15 , wherein generating a forecast model from the collected data points comprises employing a control logic for feedback forecasting.
17 . The computer program product of claim 15 , wherein generating a forecast model from the collected data points comprises recalculating at least one of the recommended number of collected data points and the cap on time to elapse.
18 . The computer program product of claim 15 , wherein generating a forecast model from the collected data points comprises adjusting the recommended number of collected data points, responsive to collecting at least one outlier data point.
19 . The computer program product of claim 18 , wherein the outlier data point is the last collected data point in a time series.
20 . The computer program product of claim 18 , further comprising recomputing the forecast model responsive to collecting at least two data points past the outlier data point.
21 . The computer program product of claim 15 , wherein deciding whether to generate a forecast model further comprises calculating at least one model parameter.
22 . The computer program product of claim 21 , wherein model parameter comprises at least one of a measure of sample size, a measure of forecast horizon, a measure of model trend, a measure of seasonality, a measure of a degree of correlation, and a measure of forecast quality.
23 . The computer program product of claim 21 , wherein the model parameter contributes to the recommended number of collected data points.
24 . The computer program product of claim 15 , wherein the cap on time to elapse is proportional to the recommended number of collected data points.
25 . The computer program product of claim 15 , wherein deciding whether to generate a forecast model further comprises at least one of:
determining whether the forecast model to be generated is the first such model;
determining whether the number of collected data points since the previous forecast model is greater that the recommended number of collected data points calculated for the previous forecast model;
determining whether the number of collected data points since the previous forecast model is less that the recommended number of collected data points calculated for the previous forecast model but the cap on time to elapse has expired and there exists at least one collected data point since the cap on time to elapse expired; and
determining based on the collected data points whether an unscheduled forecast model needs to be generated.
26 . The computer program product of claim 25 , wherein the unscheduled forecast model is generated responsive to an insufficient number of collected data points in an earlier forecast model and the subsequent availability of sufficient collected data points within a desired confidence level.
27 . The computer program product of claim 25 , wherein the unscheduled forecast model is generated responsive to the collected data points deviating significantly from patterns predicted by an earlier forecast model.
28 . The computer program product of claim 15 , further comprising scenarios corresponding to collected data points, the scenarios that need forecasting at a higher priority determined by a ranking system.
29 . The computer program product of claim 28 , wherein the rank is based on at least one of a need to calculate an unscheduled forecast, the recommended number of collected data points, a forecaster's preference, and the completion of an earlier forecast.
30 . A system for optimizing runtime and utilization of computer resources in bulk statistical data modeling and forecasting, the system comprising a processor configured to:
determine a recommended number of collected data points as a function of forecast horizon and data and model quality parameters;
determine a cap on time to elapse as a number proportional to the recommended number of collected data points;
determine, based on at least one of data behavior, the recommended number of collected data points, and the cap on time to elapse, whether to generate a forecast model; and
generate the forecast model from all collected data.