Model Performance and Stability Assessment Tools for Single Time Series, Panel Data, & Cross-Sectional Time Series Analysis
A modeltime
extension that implements
forecast resampling tools that assess
time-based model performance and stability for a single
time series, panel data, and cross-sectional time series analysis.
CRAN version:
install.packages("modeltime.resample")
Development version (latest features):
::install_github("business-science/modeltime.resample") remotes
Resampling time series is an important strategy to evaluate the stability of models over time. However, it’s a pain to do this because it requires multiple for-loops to generate the predictions for multiple models and potentially multiple time series groups. Modeltime Resample simplifies the iterative forecasting process taking the pain away.
Modeltime Resample makes it easy to:
Here is an example from Resampling Panel Data, where we can see that Prophet Boost and XGBoost Models outperform Prophet with Regressors for the Walmart Time Series Panel Dataset using the 6-Slice Time Series Cross Validation plan shown above.
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Modeltime is part of a growing ecosystem of Modeltime forecasting packages.
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