On a daily basis, we develop new things, but also upgrade existing models. For your daily data, we added some new features - with a little effort, you can improve your forecast accuracy considerably. Now you can limit your target prediction, remove outliers, add country holidays and special events.
Firstly, let's go through prediction limitations. Once you have selected the main parameters of the model, you can limit the target variable. If you know that the variable reaches a certain minimum or maximum, you enter it in the appropriate field. For example, your want to predict daily temperature. If you know the maximum temperature is 40 °C, you will pass that value to the model so that it would not predict higher values. You can limit both the target minimum and maximum.
If there are large oscillations among the data, it is difficult for the model to recognize what is the minimum and maximum value of the Target Column - that's why he needs your help. Through the next few post, we will go through the remaining features, which have a greater impact on modeling than the target limitation, so stay tuned! 🙂