Functime stands out as an automated machine learning (AutoML) tool tailored for contemporary business forecasting on a large scale. It boasts an impressive capability to forecast, backtest, and score 100,000 time series within a mere 10 seconds, marking a monumental advancement compared to alternatives like Amazon Forecast and u8darts, with a speed that is 100 times faster.
What sets Functime apart is its foundation built for speed, utilizing 20 times less memory usage while maintaining exceptional performance. Its versatility shines through seamless integration of external data sources including holiday schedules, weather patterns, and economic indicators, enriching analyses with exogenous features and causal insights, sourced either through API integrations or user-provided datasets.
Moreover, Functime offers a comprehensive suite of tools for enhancing forecasting accuracy and interpretability. This includes out-of-the-box utilities for incorporating exogenous features and elucidating forecasts through feature importance plots, Shapley values, and sensitivity analyses.
One of its standout features is the integration of GPT-4-enabled trend-seasonality analysis, providing users with a finely-tuned and customizable GPT-4 model for precise prediction explanation and justification.
Functime ensures seamless collaboration and communication with stakeholders through instant sharing of visualizations created with the ECharts and Plotly libraries, facilitating efficient decision-making processes.
Furthermore, the tool excels in hyperparameter tuning, supporting both embarrassingly-parallel and robust probabilistic forecasts through state-of-the-art techniques such as quantile regression and conformal prediction.
Acknowledging the complexities of real-world datasets, Functime offers specialized forecast options for handling zero-inflated and censored data, ensuring accurate predictions even in challenging scenarios.
In summary, Functime emerges as a potent API for AI/ML forecasting, combining power and ease of use to enable users to effortlessly deploy and scale time-series machine learning models in the cloud, unlocking new possibilities for data-driven decision-making.
More details about Functime
How fast is Functime’s hyperparameter tuning?
The term “blazing-fast” refers to Functime’s hyperparameter tuning method, which implies that it can effectively and swiftly adjust forecasting model parameters to enhance their performance.
How can users backtest with Functime?
With Functime’s powerful forecasting tools, users can perform backtests. With the help of the autoML tool, users may create forecasts for a given time frame and then assess the efficacy and accuracy of their models by comparing the forecasts with the actual results.
How does Functime provide fast feature engineering?
Functime feature engineering is fueled by the Arrow ecosystem, Polars, lazy query optimization, and the fastest DataFrame library in the world. With this configuration, feature engineering work may be completed incredibly quickly.
What is special about Functime’s zero-inflated and censored forecast options?
Functime’s censored and zero-inflated forecasting solutions are designed to handle datasets with a large percentage of missing values or zeros. The forecast models are robust against such circumstances because to these specialist forecast options.
