MIT Researchers Create a Tool for Predicting the Future

Researchers design a user-friendly interface that helps nonexperts make forecasts using data collected over time. Whether someone is trying to predict tomorrow's weather, forecast future stock prices, identify missed opportunities for sales in retail, or estimate a patient's risk of developing a disease, they will likely need to interpret time-series data, which are a collection of observations recorded over time. Making predictions using time-series data typically requires several data-processing steps and the use of complex machine-learning algorithms, which have such a steep learning curve they aren't readily accessible to nonexperts. To make these powerful tools more user-friendly, MIT researchers developed a system that directly integrates prediction functionality on top of an existing time-series database. Their simplified interface, which they call tspDB (time series predict database), does all the complex modeling behind the scenes so a nonexpert can easily generate a prediction in only a few seconds. MIT researchers created a tool that enables people to make highly accurate predictions using multiple time-series data with just a few keystrokes.