Forum Discussion

backuserichsen's avatar
backuserichsen
Frequent Visitor
4 years ago

Forcast

Hey everyone,  

I have a question I hope you guys can help me with. I am working on a case for School where I am using Power BI to forecast the oile price. The data I have to work with is (https://www.eia.gov/dnav/pet/pet_pri_spt_s1_d.htm) up to March 10, 2022. To solve this, I have converted the text to date and number and put it in a line chart. To do the forecast I have used the forecast function in Power BI. I was wondering if there is anything ells, I should do to be able to forecast the oil price more precisely, or anything I should do differently or if I should add some other graphical models?

 

Thnx for any help and feedback    

Need Help

1 Reply

  • lbendlin's avatar
    lbendlin
    Super User
    4 years ago

    Apart from using more baseline data that's pretty much all there is to it.  The Power BI forecast function doesn't know about seasonality or current political events.