Forecasting tools open source

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Figure 1: Time-series forecasting work flow. The pipeline shows the workflow to accurately forecast the future values of a time-series with certain characteristics, e. A set of candidates models are trained and the best one is selected based on the performance parameters, i. Results and Discussion. Figure 2: Linear regression model of the monthly test volumes for all clinical laboratory tests in the Province of Alberta, Canada Click here to view.

Fair understanding and estimation of how demand will vary facilitates the optimal utilization of resources. In a medical laboratory, accurate forecasting of future demand, that is, test volumes, can increase efficiency and facilitate long-term laboratory planning.

Importantly, in an era of utilization management initiatives, accurately predicted volumes compared to the realized test volumes can form a precise way to evaluate utilization management initiatives. Laboratory test volumes are often highly amenable to forecasting by time-series models; however, the statistical software needed to do this is generally either expensive or highly technical. Method: In this paper, we describe an open-source web-based software tool for time-series forecasting and explain how to use it as a demand forecasting tool in clinical laboratories to estimate test volumes.