Forward related time series dataset

Question

I am preparing for Ml speciality exam and I came across historical and forward looking related time series dataset. I am little confused over here what does both of them mean ,specially for forward looking related time series , does that mean it contains points within the forecasts horizon and where does it gets that data from , since these are the values to be predicted.

Accepted Answer

In addition to historical sales data, sometimes other data points are known for an item. This is what is referred to as a Related Time Series (RTS) data set. Related data can give more clues to what future predictions could look like. The best related data is also known in the future. As an example, a retailer may know about up coming pricing changes, if a product will be discontinued, upcoming promotions or holidays that could impact sales.  In this example you could account for these data points, into the future, using a related times series data set..

Answer

Hi,

This page will provide you with all details on your question: https://docs.aws.amazon.com/forecast/latest/dg/related-time-series-datasets.html#related-time-series-historical-futurelooking

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Related time series come in two forms:
1. Historical time series: time series without data points within the forecast horizon.
2. Forward-looking time series: time series with data points within the forecast horizon.
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More insights on the page

Best,

Didier

Forward related time series dataset

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