Forecast Methods for Time Series Data: A Survey

Zhenyu Liu,Zhengtong Zhu,Jing Gao,Cheng Xu

doi:10.1109/access.2021.3091162

Abstract

Research on forecasting methods of time series data has become one of the hot spots. More and more time series data are produced in various fields. It provides data for the research of time series analysis method, and promotes the development of time series research. Due to the generation of highly complex and large-scale time series data, the construction of forecasting models for time series data brings greater challenges. The main challenges of time series modeling are high complexity of time series data, low accuracy and poor generalization ability of prediction model. This paper attempts to cover the existing modeling methods for time series data and classify them. In addition, we make comparisons between different methods and list some potential directions for time series forecasting.

Highlights

Time series data refers to the results of observing a certain process at a given sampling rate in an spaced time period
With the development of the era of big data, forecasting research based on time series data has become one of the hot spots
More and more time series data are produced in various fields, which provides a data basis for the research of time series analysis methods

Summary

INTRODUCTION

Time series data refers to the results of observing a certain process at a given sampling rate in an spaced time period. Time series observation data has spread across various fields, such as agriculture, industry, finance, meteorology, military, etc. The research of time series data forecasting has become one of the hot spots, and has been well applied in the fields of meteorological and weather forecasting, industrial production forecasting, and stock trend forecasting. It can help decision makers avoid risks and make more favorable decisions. Traditional time series forecasting methods based on probability and statistics have achieved great results in the fields of meteorology, finance, industry, etc.

PREDICTION ISSUE OF TIME SERIES

Method Fuzzy method ANN

FUTURE DIRECTIONS AND OPEN ISSUES

Findings

CONCLUSION