time sery method
A Novel Hybrid Approach to Contraceptive Demand Forecasting: Integrating Point Predictions with Probabilistic Distributions
Hewage, Harsha Chamara, Rostami-Tabar, Bahman, Syntetos, Aris, Liberatore, Federico, Milano, Glenn
Accurate demand forecasting is vital for ensuring reliable access to contraceptive products, supporting key processes like procurement, inventory, and distribution. However, forecasting contraceptive demand in developing countries presents challenges, including incomplete data, poor data quality, and the need to account for multiple geographical and product factors. Current methods often rely on simple forecasting techniques, which fail to capture demand uncertainties arising from these factors, warranting expert involvement. Our study aims to improve contraceptive demand forecasting by combining probabilistic forecasting methods with expert knowledge. We developed a hybrid model that combines point forecasts from domain-specific model with probabilistic distributions from statistical and machine learning approaches, enabling human input to fine-tune and enhance the system-generated forecasts. This approach helps address the uncertainties in demand and is particularly useful in resource-limited settings. We evaluate different forecasting methods, including time series, Bayesian, machine learning, and foundational time series methods alongside our new hybrid approach. By comparing these methods, we provide insights into their strengths, weaknesses, and computational requirements. Our research fills a gap in forecasting contraceptive demand and offers a practical framework that combines algorithmic and human expertise. Our proposed model can also be generalized to other humanitarian contexts with similar data patterns.
Back to Basics: A Sanity Check on Modern Time Series Classification Algorithms
Dhariyal, Bhaskar, Nguyen, Thach Le, Ifrim, Georgiana
The state-of-the-art in time series classification has come a long way, from the 1NN-DTW algorithm to the ROCKET family of classifiers. However, in the current fast-paced development of new classifiers, taking a step back and performing simple baseline checks is essential. These checks are often overlooked, as researchers are focused on establishing new state-of-the-art results, developing scalable algorithms, and making models explainable. Nevertheless, there are many datasets that look like time series at first glance, but classic algorithms such as tabular methods with no time ordering may perform better on such problems. For example, for spectroscopy datasets, tabular methods tend to significantly outperform recent time series methods. In this study, we compare the performance of tabular models using classic machine learning approaches (e.g., Ridge, LDA, RandomForest) with the ROCKET family of classifiers (e.g., Rocket, MiniRocket, MultiRocket). Tabular models are simple and very efficient, while the ROCKET family of classifiers are more complex and have state-of-the-art accuracy and efficiency among recent time series classifiers. We find that tabular models outperform the ROCKET family of classifiers on approximately 19% of univariate and 28% of multivariate datasets in the UCR/UEA benchmark and achieve accuracy within 10 percentage points on about 50% of datasets. Our results suggest that it is important to consider simple tabular models as baselines when developing time series classifiers. These models are very fast, can be as effective as more complex methods and may be easier to understand and deploy.
Top Deep Learning Based Time Series Methods
BEGIN ARTICLE PREVIEW: Download our Mobile App The components of time-series can be as complex and sophisticated as the data itself. With every passing second, the data obtained multiplies and modelling becomes tricky. For instance, social media platforms, the data handling chores get worse with their increasing popularity. Twitter stores 1.5 petabytes of logical time series data and handles 25K query requests per minute. There are more critical applications of time series modelling, such as IoT and on various edge devices. Sensors of smart buildings, factories, power plants, and data centres generate vast amounts of multivariate time series data. Conventional anomaly detection methods are inadequate due to the dynamic complexities of these systems. Today, most of the state-of-the-art methods aim to leverage deep learning for time-series modelling. In this article, we take a look at a few of the top works on deep learning base time series that have been
Top Deep Learning Based Time Series Methods
The components of time-series can be as complex and sophisticated as the data itself. With every passing second, the data obtained multiplies and modelling becomes tricky. For instance, social media platforms, the data handling chores get worse with their increasing popularity. Twitter stores 1.5 petabytes of logical time series data and handles 25K query requests per minute. There are more critical applications of time series modelling, such as IoT and on various edge devices.