Alteryx
Case Studies
Stock Price Forecasting Using Monte Carlo Simulation in Alteryx
Overview
Stock Price Forecasting Using Monte Carlo Simulation in AlteryxAlteryx |
Analytics & Modeling - Digital Twin / Simulation Application Infrastructure & Middleware - Middleware, SDKs & Libraries | |
Equipment & Machinery Finance & Insurance | |
Logistics & Transportation | |
Inventory Management Virtual Reality | |
Operational Impact
The operational results of this project were significant. The workflow forced the author to think of every corner of the Alteryx tools to achieve the final result, teaching them new skills along the way. The ability in Alteryx to inspect outcomes at every step and scale it to run for multiple iterations was very handy throughout the development of this sample use case. The sample can be extended further to add on many more features such as letting the user choose the stock to analyze, analyzing multiple stocks at the same time, building an application that lets you choose iterations for the simulation, and building a more intuitive reporting user interface to let the user dynamically analyze the simulation outcome. However, the workflow has its own challenges and can be improved further. For instance, the workflow takes a lot of time to execute. For 1000 simulations, it took about 45 minutes on an i7, 16GB RAM desktop. The reporting in the workflow is very basic for illustration purpose and can be further enhanced. | |