The Feature and Event Library
The SensibleAI Forecast Feature Library enhances the accuracy and efficiency of forecasting models by seamlessly integrating external data sources. This innovative tool allows users to effortlessly incorporate macroeconomic indicators and other relevant data feeds into their models, eliminating the need for manual data handling. Traditionally, this is a process that can take weeks for each data source. By automating data integration, the Feature Library not only saves valuable time but also significantly improves forecast precision, making it an essential asset for businesses aiming to optimize their planning and decision-making processes. These features pair well with the insights capabilities of SensibleAI Forecast, allowing users to see what features are driving their forecasts.
SensibleAI Forecast Feature Library
The SensibleAI Forecast Feature Library significantly enhances the accuracy and efficiency of forecasting models by seamlessly integrating external data sources. This powerful capability enables users to effortlessly incorporate macroeconomic indicators and other relevant data feeds into their models—eliminating the traditionally time-consuming and manual process of data acquisition and transformation, which can take weeks per source.
By automating data integration, the Feature Library not only accelerates implementation timelines but also improves forecast accuracy. It serves as a critical asset for organizations seeking to refine their planning and decision-making processes. Furthermore, these enriched features align seamlessly with the Insights functionality in SensibleAI Forecast, enabling users to better understand the key drivers influencing forecast outcomes.
Events and Event Packages
SensibleAI Forecast also provides robust support for Events and Event Packages, allowing users to define, manage, and analyze specific occurrences that may impact their forecasts. These events can include holidays, promotional campaigns, store closures, and other context-specific factors.
Once defined, events are evaluated through feature selection algorithms to determine their predictive value. In addition, the Scenario Modeling capability allows users to assess the impact of individual events—such as evaluating how the forecast would change if a particular event occurs or does not occur.
Prebuilt Event Packages streamline this process by offering categorized, ready-to-use sets of events, which can be easily incorporated into models. These events are used to enhance model interpretability and provide greater insight into causal relationships within the forecast.
Summary
Together, the Feature Library and Event capabilities provide a comprehensive framework for enriching forecasting models with external drivers and contextual signals. These enhancements enable SensibleAI Forecast users to build more accurate, explainable, and actionable forecasts.
The following tables detail the available feature library packages and prebuilt event packages offered within the SensibleAI Forecast platform.
Standard Features
Feature Name | Description | Selection Options |
|---|---|---|
Maritime Index | Measures the cost of shipping goods, reflecting global trade and economic conditions. | N/A |
Median CPI | Represents the median price change of a basket of goods, indicating underlying inflation trends. | N/A |
Covid Cases | Tracks the number of reported COVID-19 cases in the US, affecting economic activities and consumer behavior. | N/A |
Event | Creates a binary feature for tracking when events such as holidays, sales promotions, etc. occur. Pre-built event packages are available, including US holidays, sporting events, European holidays, etc. | Configured by user |
Interest Rate | The rate at which interest is paid by borrowers from the US for the use of money influences economic activities and spending. | N/A |
US Population | The total number of people in the US affects demand and economic indicators. | N/A |
Commodities Producer Price Index | Measures the average change over time in the selling prices received by domestic producers for their output, impacting cost structures and inflation. | N/A |
Stock Ticker | Tracks the price movements of specific stocks, reflecting market sentiment and economic health. | All stock tickers |
US Gas Price | The price of gasoline in the US influences transportation costs and consumer spending. | N/A |
US Unemployment | The percentage of the labor force that is jobless, indicating economic health and consumer spending power. | N/A |
Weather | Creates multiple weather features, including temperature, rainfall, snowfall, cloud cover, etc., for any desired geolocation. Will include a 14-day weather forecast as well. | All geolocations |
EU and Neighboring Nations Group of 20 CPI | Measures inflation for the Group of 20 economies, reflecting price changes and economic trends. | Germany, France, Italy |
EU and Neighboring Nations Harmonized CPI | Standardized measure of consumer price inflation across European Union countries, allowing for comparisons. | 33 different European countries |
EU and Neighboring Nations Harmonized CPI Inflation | Tracks the rate of inflation for the harmonized CPI, indicating price stability and economic conditions. | 33 different European countries |
EU and Neighboring Nations Money Market Interest Rate | Reflects short-term borrowing costs within the Eurozone, impacting liquidity and economic activity. | 5 different European countries |
EU and Neighboring Nations Unemployment Rate | The proportion of the labor force that is unemployed in the Eurozone indicates labor market conditions. | 27 different European countries |
OECD Harmonized CPI | Measures inflation consistently across OECD countries, enabling cross-country economic comparisons. | Only USA |
OECD Harmonized CPI Inflation | Tracks the inflation rate for the OECD harmonized CPI, reflecting overall price changes in member countries. | Only USA |
OECD Unemployment | The unemployment rate across OECD countries indicates broader economic and labor market trends. | USA and Japan |
Canada CPI | Consumer Price Index of Canada on a monthly basis. | N/A |
Canada Population | The total number of people in Canada affects demand and economic indicators. | N/A |
Premium Features - International MacroEconomic Package
Feature Name | Description | Country Selection Amount | Top Supported Countries |
|---|---|---|---|
Inflation Rates | The inflation rate across certain countries on a monthly basis for most countries. Quarterly for 6 counties: (Australia, Faroe Islands, Myanmar, New Zealand, Papua New Guinea, Vanuatu). | 179 Countries | Top 24 Supported Countries Argentina Australia Belgium Brazil Canada China France Germany India Indonesia Italy Japan Mexico Netherlands Russia Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
Housing Starts | Housing starts across many different countries with granularities being monthly and quarterly depending on the country. | 19 Countries | Top 19 Supported Countries Bulgaria Canada China Czech Republic Denmark Finland France Iceland Israel Japan Kyrgyzstan Norway Russia Spain Sweden Thailand Turkey United Kingdom United States |
Consumer Price Index (CPI) | Consumer Price Index across many countries on a monthly basis for most countries and quarterly for a couple. | 173 Countries | Top 24 Supported Countries Argentina Australia Brazil Canada China Euro Area France Germany India Indonesia Italy Japan Mexico Netherlands Russia Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
Population | Population across many countries on a yearly basis. | 185 Countries | Top 24 Supported Countries Argentina Australia Brazil Canada China Euro Area France Germany India Indonesia Italy Japan Mexico Netherlands Russia Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
Unemployment Rates | Unemployment rate across many countries on differing granularities. (Monthly, Quarterly and Yearly) | 155 Countries | Top 24 Supported Countries Argentina Australia Brazil Canada China Euro Area France Germany India Indonesia Italy Japan Mexico Netherlands Russia Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
Gas Prices | Gas prices across many different countries with monthly and quarterly granularities. | 95 Countries | Top 23 Supported Countries Argentina Australia Brazil Canada China France Germany India Indonesia Italy Japan Mexico Netherlands Russia Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
GDP Growth Rate | GDP Growth rate across many different countries with a quarterly granularity. | 86 Countries | Top 23 Supported Countries Argentina Australia Brazil Canada China Denmark France Germany India Indonesia Italy Japan Mexico Netherlands Saudi Arabia Singapore South Africa South Korea Spain Switzerland Turkey United Kingdom United States |
Car Productions | Cars made per month across many different countries with monthly and yearly granularities (Yearly only for France). | 22 Countries | Top 20 Countries Supported Argentina Brazil China France Germany India Indonesia Iran Japan Kenya Mexico Poland Portugal Russia South Korea Spain Taiwan Thailand United Kingdom United States |
Vehicle Sales | Number of vehicles sold per month across many different countries with monthly granularities. | 14 Countries | All 14 Countries Supported Australia Brazil Chile China Colombia India Mexico Philippines Russia South Africa Spain Thailand Turkey United States |
Event Packages
Event Package Name | Event Package Description |
|---|---|
US Holidays | Includes federal and public holidays in the United States that influence business hours, employee availability, and consumer activity. |
Sporting Events | Major national and international sporting events and championships that impact audience engagement, retail trends, and regional economic activity. |
Covid State Shutdowns | Government-imposed lockdowns and restrictions across U.S. states due to COVID-19, with substantial effects on mobility, commerce, and public services. |
Denmark Holidays | Official public holidays in Denmark that affect business operations, employee availability, and consumer behavior. |
Mexico Holidays | National holidays in Mexico that drive cultural observances, business closures, and shifts in consumer activity. |
China Holidays | Major public holidays in China, such as Chinese New Year and National Day, which significantly influence travel, retail, and industrial activity. |
Canada Holidays | Federal and provincial holidays in Canada that impact workforce scheduling, retail operations, and service availability. |
Australia Holidays | National and state-level holidays in Australia affecting public sector operations, retail activity, and consumer demand. |
Finland Holidays | Official Finnish holidays that influence business hours, workforce attendance, and cultural behavior. |
Sweden Holidays | National holidays in Sweden that affect commercial activity, government services, and cultural observances. |
Germany Holidays | Public holidays in Germany with regional variations that impact business closures, supply chains, and consumer behavior. |
France Holidays | National and regional holidays in France that influence business schedules, consumer trends, and public events. |
Italy Holidays | Official public holidays in Italy affecting commercial activity, cultural practices, and workforce availability. |
United Kingdom Holidays | Bank and public holidays in the UK that influence business operations, travel patterns, and retail behavior. |
Religious Holidays | Key religious observances across global faiths that may impact consumer behavior, workforce participation, and business operations in various regions. |