Create Forecasts with Vertex AI on the Google Cloud
Vertex AI is a platform for machine learning that can be used on the Google Cloud. With the Vertex AI you can create forecasts based on tabular inventory data.
Forecasts with the Vertex AI for users without programming
Regression analysis forecasts are forecasts of future events or trends based on historical data. They can be used in many industries such as finance, retail, manufacturing and logistics to help companies better align their plans and decisions. With the Vertex AI, such a regression analysis can be performed based on a tabular data set using a specially created machine learning model.
The Vertex AI is a holistic machine learning platform on the Google Cloud that enables users to perform forecasting and analysis on large amounts of data – without any programming knowledge. With the Vertex AI, a tabular data set can be automatically trained in a machine learning model and output as an endpoint. The data record can be stored easily and conveniently in a BigQuery database on the Google Cloud.
- Forecasts in a timeline: Based on the timeline of a tabular data set, you can use the Vertex AI to make a forecast using regression analysis. The timeline data points correspond to the table rows in the tabular data set.
- Detect anomalies in model monitoring: Another feature of the Vertex AI is anomaly detection, which makes it possible to detect unusual or unexpected changes in the data. This can be useful for early detection and troubleshooting of potential outliers or exceptional trends.
- Features in the forecast: You can assign feature values with weights to individual table columns of your tabular data set. This calculates in the forecast how much your forecast metric is influenced by another metric. On this basis, you can primarily price in synergy effects.
Vertex AI dashboard on Google Cloud: Upload tabular datasets in CSV format or as a path to a BigQuery database.
Use cases for forecasts with the Vertex AI on Google Cloud
Companies need forecasts to make their business decisions and plan their online marketing. With the Vertex AI on the Google Cloud, for example, sales volumes or the statistically probable demand on weekdays or in certain months can be calculated. It gives a company great advantages to be able to statistically probably predict the demand of products in order to adjust production and inventory levels accordingly. With the Vertex AI on the Google Cloud, companies can analyze large amounts of data from online marketing and sales and create forecasts for the coming months or even years. Another important application area of the Vertex AI on the Google Cloud can be the forecasting of budget planning.
What are the advantages of a specially trained machine learning model via Vertex AI?
A specially trained machine learning model with the Vertex AI on the Google Cloud can recognize complex relationships in the data and take them into account in the forecast. This makes it possible to create forecasts that are meaningful, statistically probable and very close to reality. By storing feature values for additional metrics that influence the main value, you can incorporate influencing factors with specific weightings for synergy effects in the forecast.
Vertex AI Dashboard on Google Cloud ofr training a new model via AutoML.