Hi,
I have a question on ARIMA Time Series model.
It is Hospitality industry historical booking data. If a customer make a booking, then Type = 'Booking'; If a customer cancelled the booking, then Type = 'Cancel'. And its original 'Booking' disappears.
Demand forecasting model uses ARIMA Time series model, and it uses historical demand as input only where Type = 'Booking' (Not using cancellation) Does it mean the output for demand forecatsing only inlude pure 'Booking' not 'Cancelation'?
Thank you!
Hi,
This question is related to logic how to define variable being used for ARIMA model. If you are taking only "booking" then consider those customers who booked and showed up for further analysis.
I mean this would be based on your requirement. If a customer booked and then cancelled resulting no transaction for analysis.
Thank you for your reply! Sorry I didn't explain very clearly.
In my situation, if a customer booked and then canncelled, the row of 'Booking' disappears and a new row of 'Cancel' comes out.
If I just used 'Booking' as input, shall I assume my output for demand forecasting will only include 'Booking' part that already excludes cancellations if the model is good.
What is the cancellation rate? Also, what is time interval for the time sereies and why do you think ARIMA is a good model for your data?
Registration is open! SAS is returning to Vegas for an AI and analytics experience like no other! Whether you're an executive, manager, end user or SAS partner, SAS Innovate is designed for everyone on your team. Register for just $495 by 12/31/2023.
If you are interested in speaking, there is still time to submit a session idea. More details are posted on the website.
Learn how to run multiple linear regression models with and without interactions, presented by SAS user Alex Chaplin.
Find more tutorials on the SAS Users YouTube channel.