Help with prediction

machine_learning
#1

Hello Team,

I have a dataset for oil production from wells, it has columns well name, month/year, oil produced. I would like to predict production for a well. As the oil production changes over time, I’m trying to figure out how to frame the problem a regression or time series. I thought of one hot encoding wells and perform linear regression but not sure if that’s right way. If any one has experience with this kind of dataset and problem, can you please share ideas on what the approach should be?

Thanks,
Sri

#2

If you have a sequence of period data and it has trends and sessional you can go for time series or else you can go for regression