Which machine learning model is used for forecasting?

Time series forecasting is an important area of machine learning . It is important because there are so many prediction problems that involve a time component.

Some examples of ML forecasting models used in business applications are: Artificial neural network . Long short-term-memory-based neural network. Random forest.

— Statistical and Machine Learning forecasting methods: Concerns and ways forward, 2018. Comparing the performance of all methods, it was found that the machine learning methods were all out-performed by simple classical methods, where ETS and ARIMA models performed the best overall.31 Eki 2018

Autoregressive Integrated Moving Average (ARIMA ): Auto Regressive Integrated Moving Average, ARIMA, models are among the most widely used approaches for time series forecasting.22 Haz 2021