The M5: A Preview from Prior Competitions

Casper Bojer and Jens Peder Meldgaard

Foresight: The International Journal of Applied Forecasting, 2020, issue 58, 17-23

Abstract: The M5 competition, in progress with more than 25,000 participants-a very dramatic increase from the 49 competitors in the M4-will address many criticisms of the relevance of forecasting competitions to the business world. Now, participating forecasters will be developing models to forecast high-frequency data (daily and weekly buckets, including many intermittent series) that are organized into a detailed product hierarchy of Walmart retail sales and with real-time information provided on external variables and events: in short, a big leap from the M4 toward the realities of business-forecasting challenges. In this article, Casper Bojer and Jens Peder Meldgaard from Aalborg University in Denmark highlight key results of six prior competitions as a foretaste of what we can expect to learn from the M5.

Date: 2020
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