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DeepAR: Probabilistic Forecasting with Autoregressive Recurrent Networks

2017/04/13 by David Salinas, Valentín Flunkert, Valentin Flunkert +5 · 217 citations
Computer Science · Decision Sciences · Mathematics · #Artificial Intelligence (cs.AI) #FOS: Computer and information sciences #Machine Learning (cs.LG) #Machine Learning (stat.ML) #cs.AI #cs.LG #stat.ML

paper · pdf · doi:10.48550/arxiv.1704.04110

arxiv created 2019/02/22 · arxiv updated 2019/02/25

Abstract

Probabilistic forecasting, i.e. estimating the probability distribution of a time series' future given its past, is a key enabler for optimizing business processes. In retail businesses, for example, forecasting demand is crucial for having the right inventory available at the right time at the right place. In this paper we propose DeepAR, a methodology for producing accurate probabilistic forecasts, based on training an auto regressive recurrent network model on a large number of related time series. We demonstrate how by applying deep learning techniques to forecasting, one can overcome many of the challenges faced by widely-used classical approaches to the problem. We show through extensive empirical evaluation on several real-world forecasting data sets accuracy improvements of around 15% compared to state-of-the-art methods.

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