Machine Learning/Big Data
Data is an invaluable asset that, when analysed on a large scale, can help in tremendous ways, not only in business applications but in the broader society. By 2025, the amount of data generated in a single day globally is expected to reach 463 exabytes. Machine learning and the application of statistical models are the only way this huge amount of information can be properly utilised. Machine learning has applications in big data analysis for healthcare, financial forecasting, predicting trends, exploring behaviour, and more.
FORECASTERS AND DATA SCIENTISTS FROM ACROSS THE GLOBE COMPETE FOR
In Prize Money
SUBMISSIONS FROM 100+ COUNTRIES
Makridakis Open Forecasting Center (MOFC)
The Makridakis Open Forecasting Center (MOFC) is one of the leading academic forecasting centers in the world.
It conducts cutting-edge research on Forecasting, assisting organisations make accurate predictions, estimate levels of uncertainty, and rationally manage ensuing risks through training, research, technology development, and consulting.
Ultimately, MOFC aims to expand the utilisation and value of Forecasting among business firms, by identifying their needs, suggesting the most appropriate way of fulfilling them, demonstrating its benefits in reducing costs and/or improving profits, while also avoiding untested practices.
In service of the above, MOFC houses dedicated courses such as the M Applied Forecasting Course, which offers participants the opportunity to harness 40 years of Professor Makridakis’ knowledge and experience, and to master Forecasting in just six weeks. The course’s main benefits are its emphasis on hands-on learning, by encouraging participants to bring and use actual data to both predict and estimate the uncertainty of their forecasts (with its implication to risk), and its live interaction with the instructors.
M Competitions are the brainchild of Professor Spyros Makridakis, a pioneer in the field and, for many, the father of forecasting. The revolutionary initiative began four decades ago, with M Competitions taking place in 1982, 1993, 2000, 2018 and 2020. They have substantially contributed to improving forecasting accuracy and informing practitioners on the most appropriate forecasting method to use for their specific needs.
Currently on its sixth iteration, the M6 (Makridakis 6) is running as a duathlon (February 2022 to February 2023) with the support of returning and new global partners, including Google, Facebook (Meta), J.P. Morgan, IIF, Kinaxis, Intech, SAS, INSEAD and NTUA.
he findings of each M Competition are presented and analysed at length over the course of a dedicated Conference, featuring distinguished speakers from major software/technology companies, as well as reputable academics from top-level universities.
The findings, conclusions and discussions of the M Competitions are being published in academic and professional journals aimed at disseminating available knowledge and advancing the theory and practice of forecasting, with the various M Competition papers having received more than 6,000 citations so far. In addition, there has been a special issue of the International Journal of Forecasting (IJF) exclusively devoted to the M4 competition and there is one in preparation for the M5.