Forecasted spend

In this tutorial, we'll show you how to:

Create a predictive model for forecasted spend using a forecast.

Let's dive in.

Uses prerelease features

This document refers to features which are not yet available for general release: Forecast. Contact support if you'd like to request early access. Screenshots are disabled on this document.

You'll need a Faraday account — signup is free!

Confirm your data

Event stream

Unless you’ve already created it for another quickstart or purpose, you’ll need to add the following event stream to your account:

Transaction

What’s an event stream?

Predicting a certain customer behavior requires historical examples of customers exhibiting that behavior. Faraday works best when that data comes in the form of “events” — specific actions or occurrences that happened at specific times.

Formulating data this way helps you define cohorts more expressively.

For example, a Customers cohort could be defined as the group of people who have all experienced a Transaction event at least once.

For more, see our docs on Cohorts, Events, Traits, and Datasets (which define how events and traits emerge from your data).

curl

To verify, use a GET /streams request. Your response should look like this:

[{
  "name": "Transaction",
  "id": "$TRANSACTION_STREAM_ID"
, ...}]

Make note of the IDs of the necessary streams.

If the required event stream isn't there, follow the instructions using this button, then return here to resume.

Transaction

→

Configure your prediction

Create a forecasted spend forecast