The Time Series prediction Problem
Time series prediction requires the prediction of a value at time t, x(t), given its past values, x(t-1), x(t-2), …, x(t-n). How do you implement a model for time series prediction in KNIME? For time series prediction, all you need is a Lag Column node!
For example, I have a time series of daily data x(t) and I want to use the past 3 days x(t-1), x(t-2), x(t-3) to predict the current value x(t). This is an auto-prediction problem. Introducing exogenous variables, like y(t) and z(t), into the prediction model, turns an auto-prediction problem into a multivariate prediction problem. Let’s stick with auto-prediction. What we will build is easily extendible to a multivariate prediction.