{"id":13553,"date":"2024-07-08T05:31:38","date_gmt":"2024-07-08T09:31:38","guid":{"rendered":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/?p=13553"},"modified":"2024-07-08T05:33:08","modified_gmt":"2024-07-08T09:33:08","slug":"this-new-forecasting-model-is-better-than-machine-learning-researchers-say-2","status":"publish","type":"post","link":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/this-new-forecasting-model-is-better-than-machine-learning-researchers-say-2\/13553\/","title":{"rendered":"This new forecasting model is better than machine learning, researchers say"},"content":{"rendered":"Originally published in MIT Management, September 19, 2023. Why It Matters Relevance-based prediction can be used in finance, politics, and sports for more accurate forecasting. What if we told you there was a new financial forecasting model accurate enough to predict the outcome of the next U.S. presidential election or next season\u2019s NBA draft prospects? The approach \u2014 relevance-based prediction \u2014 relies on a mathematical measure to account for unusualness. In classical statistics, \u201cwe\u2019re told to be skeptical of outliers\u201d because they could be data errors, said Mark Kritzman, senior lecturer in finance at MIT Sloan and a <a href=\"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/this-new-forecasting-model-is-better-than-machine-learning-researchers-say-2\/13553\/\" class=\"more-link\">(more&hellip;)<\/a>","protected":false},"excerpt":{"rendered":"<p>Originally published in MIT Management, September 19, 2023. Why It Matters Relevance-based prediction can be used in finance, politics, and sports for more accurate forecasting. What if we told you there was a new financial forecasting model accurate enough to predict the outcome of the next U.S. presidential election or next season\u2019s NBA draft prospects? [&hellip;]<\/p>\n","protected":false},"author":78,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_links_to":"","_links_to_target":""},"categories":[11,1,48],"tags":[],"class_list":["post-13553","post","type-post","status-publish","format-standard","hentry","category-industry-news","category-leading-blogs","category-left-hand"],"_links":{"self":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/13553","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/users\/78"}],"replies":[{"embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/comments?post=13553"}],"version-history":[{"count":2,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/13553\/revisions"}],"predecessor-version":[{"id":13555,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/posts\/13553\/revisions\/13555"}],"wp:attachment":[{"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/media?parent=13553"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/categories?post=13553"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.predictiveanalyticsworld.com\/machinelearningtimes\/wp-json\/wp\/v2\/tags?post=13553"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}