A Comprehensive Study on Improving Time Series Forecasting Precision
DOI:
https://doi.org/10.56294/mw2024.588Keywords:
Time series forecasting, forecasting precision, data preprocessing, feature engineering, model selection, parameter tuningAbstract
This paper presents a comprehensive study aimed at enhancing the precision of time series forecasting. The primary objective is to investigate various techniques and methodologies to improve the accuracy of forecasting models, thereby providing valuable insights for practitioners in diverse domains reliant on time series predictions. The methodology encompasses data preprocessing, feature engineering, model selection, parameter tuning, and ensemble methods. Through meticulous analysis and experimentation, key findings reveal the effectiveness of different approaches in enhancing forecasting precision. Notably, our research underscores the significance of proper data preprocessing and feature engineering in achieving superior forecasting accuracy. Moreover, comparative evaluations of diverse forecasting models shed light on their relative performance and suitability across different time series datasets. The conclusions drawn from this study offer practical recommendations for practitioners to adopt strategies that optimize forecasting precision. Additionally, the study identifies avenues for future research, particularly in exploring advanced ensemble techniques and addressing the challenges associated with non-stationary data. Overall, this research contributes to the ongoing discourse on improving time series forecasting accuracy and underscores its importance in decision-making processes across various domains.
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Copyright (c) 2024 Mattukoyya Suhas Sahay , Sreeja Ganta, Bonu Naga Vamsi Vardhan , Kamisetty Srilakshmi (Author)
This work is licensed under a Creative Commons Attribution 4.0 International License.
The article is distributed under the Creative Commons Attribution 4.0 License. Unless otherwise stated, associated published material is distributed under the same licence.
