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- W3156516532 abstract "We focus on forecast evaluation techniques that comply with the design principles of Industry 4.0 (or I4.0). The I4.0 concept refers to trends and principles attributed to the 4th industrial revolution and, in particular, assumes the following capabilities of automated systems: interoperability, decentralization, real-time processing, and service-orientation. Generally, effective forecast evaluation requires us to store both actuals and forecasts. We look at how to handle rolling-origin forecasts produced for many series over multiple horizons. This setup is met both in research (e.g., in forecasting competitions or when proposing a new method) and in practice (when tracking/reporting forecasting performance). We show how to ensure access to all the variables required for exploratory analysis and performance measurement. We propose flexible yet simple and effective data schemas allowing the storage and exchange of actuals, forecasts, and any additional relevant info. We show how to construct various tools for forecast exploration and evaluation using the schemas proposed. In particular, we present our implementation of a prediction-realization diagram showing forecasts from different methods on one plot. We propose special tools for measuring the quality of point and interval rolling-origin predictions across many time series and over multiple horizons. The workflow for using techniques proposed is illustrated using R codes." @default.
- W3156516532 created "2021-04-26" @default.
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- W3156516532 date "2021-01-01" @default.
- W3156516532 modified "2023-09-27" @default.
- W3156516532 title "Forecast Evaluation Techniques for I4.0 Systems" @default.
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- W3156516532 doi "https://doi.org/10.1007/978-3-030-66077-2_7" @default.
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