I have only 1 month of historical data of invoices can I predict next 12 month of data with good accuracy if it is possible then which model should I used for prediction? Thanks
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Since Invoice analysis comes under trend analysis. It's better to take a look at the data from a statistical point of view. Plot graphs, manually check the relation and so on. if there is a trend which is not monotonic, or if it's recurring weekly it's better to take a look at (Recurrent Neural Network)RNN's to predict based on the day or week.
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$\begingroup$ but is it possible to predict from only 1 month of data for next 12 months??? $\endgroup$ – Nikhil Ghadi Nov 26 '20 at 13:01
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$\begingroup$ @NikhilGhadi If the monthly data varies a lot then it should be difficult. But that depends on several factors like festive seasons, offers ..etc. Hence it's difficult to tell. But if you have a model you can always train it live as new data comes in. $\endgroup$ – Anoop A Nair Nov 26 '20 at 13:15
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