I have two model prediction results:
- Using ARIMA model
How do we compare these two? Is conventional time series modelling better or, are machine learning methods better?
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Sign up to join this communityI have two model prediction results:
How do we compare these two? Is conventional time series modelling better or, are machine learning methods better?
You can validate the model and compare one model with other by calculating accuracy metrics such as - R-squared, root mean squared error, residual standard error, mean absolute error, Adjusted R-squared, AIC, AICc, BIC.
Currently, the most popular metrics for evaluating time series forecasting models are MAE, RMSE and AIC