AI engineering glossary · Time series recsys
What is forecasting?
Forecasting (also called Time series forecasting): Predicting future values of a quantity from its past values and, often, other known factors. It supports planning such as stock levels, staffing and capacity. Results are best given with a range of uncertainty rather than one number.
Forecasting: an example
Predict next week's daily electricity demand for a city from the last 3 years of readings and weather forecasts.
Related terms
More Time series recsys terms
- Fourier terms
- Funk SVD
- GARCH model
- Granger causality
- GRU4Rec
- Hierarchical forecasting
- Holiday effect
- Holt's linear method
Where you learn it
Forecasting is part of the AI Engineering Program, which teaches it with notes, a hands-on lab and an exam. The first lesson is free.