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When Does Multimodality Lead to Better Time Series Forecasting?
Created by
Haebom
Author
Xiyuan Zhang, Boran Han, Haoyang Fang, Abdul Fatir Ansari, Shuai Zhang, Danielle C. Maddix, Cuixiong Hu, Andrew Gordon Wilson, Michael W. Mahoney, Hao Wang, Yan Liu, Huzefa Rangwala, George Karypis, Bernie Wang
Outline
This paper studies the integration of text information into foundation models for time series forecasting. Using various datasets and models, we analyze the effectiveness of text information integration and the conditions that influence its effectiveness. We evaluate two major approaches (alignment-based and prompt-based) and isolate the influence of model architecture and data characteristics to derive generalizable insights. Our results demonstrate that the benefits of multimodal approaches are not universal and are only effective under certain conditions.
Takeaways, Limitations
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Takeaways:
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The benefits of integrating text information vary depending on the dataset and model.
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Text information integration can be helpful when using high-capacity text models, relatively weak time series models, and appropriate alignment strategies.
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Performance improvements are expected when sufficient training data exists and text provides additional predictive signals that cannot be obtained from time series data alone.
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Limitations:
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This study validated the effectiveness of the multimodal approach only under specific conditions, and therefore cannot be generalized to all time series forecasting problems.
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This may be limited to the model and dataset used in the study, and different results may appear for new models or datasets.
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Further analysis is needed regarding the quality of text information.