Wisdom of the crowd? Building better forecasts from suboptimal predictors

Researchers at the University of Tokyo and Kozo Keikaku Engineering Inc. have introduced a method for enhancing the power of existing algorithms to forecast the future of unknown time series. By combining the predictions of many suboptimal forecasts, they were able to construct a consensus prediction that tended to outperform existing methods. This research may help provide early warnings for floods, economic shocks, or changes in the weather.

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