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Can time series forecasting be automated? A benchmark and analysis
Sreedhara, Anvitha Thirthapura, Vanschoren, Joaquin
In the field of machine learning and artificial intelligence, time series forecasting plays a pivotal role across various domains such as finance, healthcare, and weather. However, the task of selecting the most suitable forecasting method for a given dataset is a complex task due to the diversity of data patterns and characteristics. This research aims to address this challenge by proposing a comprehensive benchmark for evaluating and ranking time series forecasting methods across a wide range of datasets. This study investigates the comparative performance of many methods from two prominent time series forecasting frameworks, AutoGluon-Timeseries, and sktime to shed light on their applicability in different real-world scenarios. This research contributes to the field of time series forecasting by providing a robust benchmarking methodology, and facilitating informed decision-making when choosing forecasting methods for achieving optimal prediction.
Statistical and Machine Learning Models for Predicting Fire and Other Emergency Events
Sharma, Dilli Prasad, Beigi-Mohammadi, Nasim, Geng, Hongxiang, Dixon, Dawn, Madro, Rob, Emmenegger, Phil, Tobar, Carlos, Li, Jeff, Leon-Garcia, Alberto
Emergency events in a city cause considerable economic loss to individuals, their families, and the community. Accurate and timely prediction of events can help the emergency fire and rescue services in preparing for and mitigating the consequences of emergency events. In this paper, we present a systematic development of predictive models for various types of emergency events in the City of Edmonton, Canada. We present methods for (i) data collection and dataset development; (ii) descriptive analysis of each event type and its characteristics at different spatiotemporal levels; (iii) feature analysis and selection based on correlation coefficient analysis and feature importance analysis; and (iv) development of prediction models for the likelihood of occurrence of each event type at different temporal and spatial resolutions. We analyze the association of event types with socioeconomic and demographic data at the neighborhood level, identify a set of predictors for each event type, and develop predictive models with negative binomial regression. We conduct evaluations at neighborhood and fire station service area levels. Our results show that the models perform well for most of the event types with acceptable prediction errors for weekly and monthly periods. The evaluation shows that the prediction accuracy is consistent at the level of the fire station, so the predictions can be used in management by fire rescue service departments for planning resource allocation for these time periods. We also examine the impact of the COVID-19 pandemic on the occurrence of events and on the accuracy of event predictor models. Our findings show that COVID-19 had a significant impact on the performance of the event prediction models.
The Wisdom of Bookies? Sentiment Analysis Versus. the NFL Point Spread
Hong, Yancheng (Hong Kong University of Science &) | Skiena, Steven (Technology)
The American Football betting market provides a particularly attractive domain to study the nexus between public sentiment and the wisdom of crowds. In this paper, we present the first substantial study of the relationship between the NFL betting line and public opinion expressed in blogs and microblogs (Twitter). We perform a large-scale study of four distinct text streams: LiveJournal blogs, RSS blog feeds captured by Spinn3r, Twitter, and traditional news media. Our results show interesting disparities between the first and second halves of each season. We present evidence showing usefulness of sentiment on NFL betting. We demonstrate that a strategy betting roughly 30 games per year identified winner roughly 60% of the time from 2006 to 2009, well beyond what is needed to overcome the bookie's typical commission(53%).