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2020 | OriginalPaper | Buchkapitel

8. Machine Learning and Forecasting: A Review

verfasst von : Petrus H. Potgieter

Erschienen in: Applied Economics in the Digital Era

Verlag: Springer International Publishing

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Abstract

The proliferation of business data and on-demand computing have propelled the use of artificial intelligence methods in quantitative forecasting. Machine learning has a prominent role in solving clustering and classification problems as well as dimensionality reduction. Nevertheless, traditional statistical methods of forecasting continue to perform well in competitions and many practical applications. The chapter considers critically the successes of machine learning in forecasting, using some case studies as well as theoretical considerations, including limitations on machine learning and other techniques for forecasting. It also discusses weaknesses of the Vapnik–Chervonenkis theory. The main aim of the chapter is to stimulate scholarly dialogue on the role of machine learning in forecasting.

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Titel: Machine Learning and Forecasting: A Review
verfasst von: Petrus H. Potgieter
Verlag: Springer International Publishing
Buch: Applied Economics in the Digital Era
Print ISBN: 978-3-030-40600-4

Electronic ISBN: 978-3-030-40601-1

Copyright-Jahr: 2020
DOI: https://doi.org/10.1007/978-3-030-40601-1_8

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