AI engineering glossary · Time series recsys

What is probabilistic forecasting?

Probabilistic forecasting: Producing a full probability distribution or set of quantiles for future values rather than a single number. It tells decision-makers how uncertain the outlook is, which matters for inventory, energy and risk.

Level: advancedTopic: Time series recsys

Probabilistic forecasting: an example

Instead of 'demand will be 500', output that demand has a 10 percent chance of exceeding 620.

Related terms

More Time series recsys terms

Where you learn it

Probabilistic 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.

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