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Hierarchical forecasting at scale

Author

Listed:
  • Sprangers, Olivier
  • Wadman, Wander
  • Schelter, Sebastian
  • de Rijke, Maarten

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.

Suggested Citation

  • Sprangers, Olivier & Wadman, Wander & Schelter, Sebastian & de Rijke, Maarten, 2024. "Hierarchical forecasting at scale," International Journal of Forecasting, Elsevier, vol. 40(4), pages 1689-1700.
    • Handle: RePEc:eee:intfor:v:40:y:2024:i:4:p:1689-1700
    DOI: 10.1016/j.ijforecast.2024.02.006
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