NHiTS was revealed 2 years in the past — and has gained vital consideration within the forecasting neighborhood since then.
First, it’s a flexible mannequin — accepting previous observations, future identified inputs, and static exogenous variables. It may be utilized throughout numerous forecasting domains, together with vitality demand, retail, and monetary markets.
It’s light-weight, but high-performance. In contrast to typical DL fashions that depend on “slapping“ hidden layers, this mannequin leverages sign idea ideas to spice up efficiency with minimal parameters.
Lastly, its multi-rate sign sampling technique allows the mannequin to seize advanced frequency patterns — important for areas like monetary forecasting. The mannequin can be utilized for probabilistic forecasting too.
On this article, we’ll clarify NHiTS intimately, analyze its structure, and spotlight its strengths and interior workings with sensible examples.
Let’s get began.
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