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- W2903794378 abstract "When forecasting time series in a hierarchical configuration, it is necessary to ensure that the forecasts reconcile at all levels. The 2017 Global Energy Forecasting Competition (GEFCom2017) focused on addressing this topic. Quantile forecasts for eight zones and two aggregated zones in New England were required for every hour of a future month. This paper presents a new methodology for forecasting quantiles in a hierarchy which outperforms a commonly-used benchmark model. A simulation-based approach was used to generate demand forecasts. Adjustments were made to each of the demand simulations to ensure that all zonal forecasts reconciled appropriately, and a weighted reconciliation approach was implemented to ensure that the bottom-level zonal forecasts summed correctly to the aggregated zonal forecasts. We show that reconciling in this manner improves the forecast accuracy. A discussion of the results and modelling performances is presented, and brief reviews of hierarchical time series forecasting and gradient boosting are also included." @default.
- W2903794378 created "2018-12-22" @default.
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- W2903794378 date "2019-10-01" @default.
- W2903794378 modified "2023-09-25" @default.
- W2903794378 title "Reconciled boosted models for GEFCom2017 hierarchical probabilistic load forecasting" @default.
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- W2903794378 doi "https://doi.org/10.1016/j.ijforecast.2018.09.009" @default.
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