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This result is indicative that ML techniques are particularly suitable for medium and long term forecasting.
However, both models perform better with short term forecasting.
Relevant test include Pearson correlation, unit root (stationary or non-stationary test), Granger causality (helpful for short term forecasting), and cointegration (suitable for long term forecasting) tests.
However, in a medium term forecasting problem, we cannot foresee the excessive annual horizon.
Long term forecasting data vary from one month to several years.
We obtain the best forecasting results for the longest forecast horizons, suggesting the suitability of machine learning techniques for mid and long term forecasting.
Similar(52)
Finally, moles are supposed to have long-term forecasting ability.
Moving to the British Treasury in 1956, he rose to become head of short-term forecasting.
Carney and co can take some small credit for a successful intervention but their short-term forecasting misjudgment remains severe.
(Other satellites stare continuously at one part of the globe from farther off, for short-term forecasting).
As Mr. Greenspan put it, "our past endeavors at long-term forecasting afford us little confidence in being able to anticipate seminal changes in global economics and finance".
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