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Warranty provision forecastin

davechefirstdavechefirst Member Posts: 1 Learner III
edited November 2018 in Help

Hi all

 

i am trying to use Rapidminer to calculate warranty provision based on historical data available about the actual warranty cost by product. But for some new products there is not enough information available and I need to

1. Find out these products based on the number of months information is available

2. To forecast warranty for these models I need to use alternative models - this needs to be defined after point 1

 

how will you approach this?

 

Many thanks. 

Answers

  • Thomas_OttThomas_Ott RapidMiner Certified Analyst, RapidMiner Certified Expert, Member Posts: 1,761 Unicorn

    Hi Davechefirst,

     

    First I would suggest installing the Series extension. There are several operatorst that can help you with your time series problems.  Before you do that, let's try to clarify a few things. 

     

    1. I assume you have historical data already loaded into RapidMiner? Yes? No?

    2. You want to forecast some time period in the future, what time period is that?

    3. What alternative models are you referring to? Naive foreasts? Volatility forecasts? ARIMA forecasts?

    4. Does your time series suffer from seasonality?

     

     

     

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