Hierarchical forecasting at scale

Olivier Sprangers, Wander Wadman, Sebastian Schelter and Maarten de Rijke

International Journal of Forecasting, 2024, vol. 40, issue 4, 1689-1700

Abstract: Hierarchical forecasting techniques allow for the creation of forecasts that are coherent with respect to a pre-specified hierarchy of the underlying time series. This targets a key problem in e-commerce, where we often find millions of products across many product hierarchies, and forecasts must be made for individual products and product aggregations. However, existing hierarchical forecasting techniques scale poorly when the number of time series increases, which limits their applicability at a scale of millions of products.

Keywords: Hierarchical forecasting; Large-scale forecasting; Efficiency in forecasting methods; Hierarchical time series; Grouped time series; Temporal aggregation (search for similar items in EconPapers)
Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:eee:intfor:v:40:y:2024:i:4:p:1689-1700

DOI: 10.1016/j.ijforecast.2024.02.006

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