The Future of Time Series Forecasting

Editor's Note: Time series data analysis and forecasting have become increasingly important due to the massive production of time series data, and as continuous monitoring and collection of such data becomes more common, the need for more efficient analysis and forecasting will only increase. As a foremost expert on time series analysis and forecasting, Aileen Nielsen shares her thoughts on what's on the horizon for time series forecasting, from enhanced methodologies to the integration of time series forecasting into everyday life. We'd love to hear from you about what you think about this piece. There are many good quotes about the hopelessness of predicting the future, and yet I can't help wanting to share some thoughts about what's coming. Because time series forecasting has fewer expert practitioners than other areas of data science, there has been a drive to develop time series analysis and forecasting as a service that can be easily packaged and rolled out in an efficient way. For example, Amazon recently rolled out a time series prediction service, and it's not the only company to do so.