Forecast or What?
Posted: Fri Oct 18, 2019 12:18 pm
Hello guys
I have a time series of data as follows:
year production
2000 7085
2001 8680
2002 9409
2003 11365
2004 14361
2005 13682
2006 14303
2007 14845
2008 15526
2009 16262
2010 20779
2011 20983
2012 22967
2013 24499
2014 24913
2015 25546
2016 28720
2017 31640
2018 33681
I want to perform a forecast from 2019 to 2025. Which one should I do?
1. Should I use forecasting method as https://www.vensim.com/documentation/fn_forecast.htm? How to do so?
2. Or should I just apply a stock-flow mode (production as stock, and the rate will be calculated using excel)?
3. Or is there any other way to do so?
Thank you guys!
I have a time series of data as follows:
year production
2000 7085
2001 8680
2002 9409
2003 11365
2004 14361
2005 13682
2006 14303
2007 14845
2008 15526
2009 16262
2010 20779
2011 20983
2012 22967
2013 24499
2014 24913
2015 25546
2016 28720
2017 31640
2018 33681
I want to perform a forecast from 2019 to 2025. Which one should I do?
1. Should I use forecasting method as https://www.vensim.com/documentation/fn_forecast.htm? How to do so?
2. Or should I just apply a stock-flow mode (production as stock, and the rate will be calculated using excel)?
3. Or is there any other way to do so?
Thank you guys!