Related papers: Wielding Occam's razor: Fast and frugal retail for…
In an era of increasing computational capabilities and growing environmental consciousness, organizations face a critical challenge in balancing the accuracy of forecasting models with computational efficiency and sustainability. Global…
Given the continuous increase in dataset sizes and the complexity of forecasting models, the trade-off between forecast accuracy and computational cost is emerging as an extremely relevant topic, especially in the context of ensemble…
Mathematical models are an essential component of quantitative science. They generate predictions about the future, based on information available in the present. In the spirit of Occam's razor, simpler is better; should two models make…
The task of parametric model selection is cast in terms of a statistical mechanics on the space of probability distributions. Using the techniques of low-temperature expansions, we arrive at a systematic series for the Bayesian posterior…
This paper's first aim is to prove a modernized Occam's razor beyond a reasonable doubt. To summarize the main argument in one sentence: If we consider all possible, intelligible, scientific models of ever-higher complexity, democratically,…
Forecast combination is widely recognized as a preferred strategy over forecast selection due to its ability to mitigate the uncertainty associated with identifying a single "best" forecast. Nonetheless, sophisticated combinations are often…
For any business, planning is a continuous process, and typically business-owners focus on making both long-term planning aligned with a particular strategy as well as short-term planning that accommodates the dynamic market situations. An…
Time series forecasting plays an increasingly important role in modern business decisions. In today's data-rich environment, people often aim to choose the optimal forecasting model for their data. However, identifying the optimal model…
All fields of science depend on mathematical models. Occam's razor refers to the principle that good models should exclude parameters beyond those minimally required to describe the systems they represent. This is because redundancy can…
The recent M5 competition has advanced the state-of-the-art in retail forecasting. However, we notice important differences between the competition challenge and the challenges we face in a large e-commerce company. The datasets in our…
We provide a new representation-independent formulation of Occam's razor theorem, based on Kolmogorov complexity. This new formulation allows us to: (i) Obtain better sample complexity than both length-based and VC-based versions of Occam's…
Time-series forecasting is an important task in both academic and industry, which can be applied to solve many real forecasting problems like stock, water-supply, and sales predictions. In this paper, we study the case of retailers' sales…
Given the rapid rise in energy demand by data centers and computing systems in general, it is fundamental to incorporate energy considerations when designing (scheduling) algorithms. Machine learning can be a useful approach in practice by…
Recent works for time-series forecasting more and more leverage the high predictive power of Deep Learning models. With this increase in model complexity, however, comes a lack in understanding of the underlying model decision process,…
We revisit the problem of large-scale assortment optimization under the multinomial logit choice model without any assumptions on the structure of the feasible assortments. Scalable real-time assortment optimization has become essential in…
The current landscape in time-series forecasting is dominated by Transformer-based models. Their high parameter count and corresponding demand in computational resources pose a challenge to real-world deployment, especially for commercial…
Fashion merchandising is one of the most complicated problems in forecasting, given the transient nature of trends in colours, prints, cuts, patterns, and materials in fashion, the economies of scale achievable only in bulk production, as…
Machine learning algorithms can now outperform classic economic models in predicting quantities ranging from bargaining outcomes, to choice under uncertainty, to an individual's future jobs and wages. Yet this predictive accuracy comes at a…
Electricity forecasting has been a recurring research topic, as it is key to finding the right balance between production and consumption. While most papers are focused on the national or regional scale, few are interested in the household…
The diverse world of machine learning applications has given rise to a plethora of algorithms and optimization methods, finely tuned to the specific regression or classification task at hand. We reduce the complexity of algorithm design for…