Business forecasting using hybrid approach: A new forecasting method using deep learning and time series
Business forecasting generally employs machine learning methods for longer and nonlinear use cases and econometrics approaches for linear trends. Pasi Helenius and Larry Orimoloye outline a hybrid approach that combines deep learning and econometrics. This method is particularly useful in areas such as competitive event (CE) forecasting (e.g., in sports events political events).
Talk Title | Business forecasting using hybrid approach: A new forecasting method using deep learning and time series |
Speakers | Pasi Helenius (SAS), Larry Orimoloye (SAS) |
Conference | Artificial Intelligence Conference |
Conf Tag | Put AI to Work |
Location | London, United Kingdom |
Date | October 9-11, 2018 |
URL | Talk Page |
Slides | Talk Slides |
Video | |
Machine learning methods are becoming increasingly popular among mainstream forecasting practitioners, due to their ability to obtain better accuracy when the forecast horizon is much longer and nonlinear. While this is true, an econometrics approach allows more transparency and formal standard to verify forecasts with better performance for linear trends. Pasi Helenius and Larry Orimoloye outline a hybrid approach that combines deep learning and econometrics. This method is particularly useful in areas such as competitive event (CE) forecasting (e.g., in sports events political events).