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Empowering Time Series Analysis with Foundation Models: A Comprehensive Survey

Created by
  • Haebom

Author

Jiexia Ye, Yongzi Yu, Weiqi Zhang, Le Wang, Jia Li, Fugee Tsung

Outline

This paper highlights the importance of time series data analysis, which is widely used in various real-world applications, and points out the limitations of existing task-specific approaches. Drawing on the recent success of foundation models in natural language processing (NLP) and computer vision (CV), we comprehensively analyze the research trends in foundation models for solving time series modeling problems. While existing tutorials and surveys were published in the early stages of this field, we emphasize the need for a more comprehensive and in-depth analysis, reflecting the rapid progress made in recent years. We present a modality-based, task-centric perspective, highlighting the unique challenges faced when applying pre-trained foundation models in different modalities to time series tasks. Based on this perspective, we propose a taxonomy that categorizes existing research by pre-training modality (time series, language, and vision). We analyze the challenges and corresponding solutions for each modality and discuss their strengths and weaknesses. Furthermore, we examine real-world application cases to illustrate domain-specific progress, provide open-source code, and suggest future research directions in this rapidly evolving field.

Takeaways, Limitations

Takeaways:
This paper comprehensively summarizes the latest trends in basic model research for time series analysis and suggests research directions by presenting a new modality-based perspective.
By systematically analyzing challenges and solutions for each modality and comparing their strengths and weaknesses, we provide insight into future research and development.
We enhance the practicality of our research results by providing real-world application examples and open-source code.
We contribute to the development of academia and industry by suggesting future research directions in the field of time series analysis.
Limitations:
The classification system presented in this paper is still in its initial stages and needs to be revised and supplemented as future research advances.
Due to the rapidly evolving nature of this field, new research findings may emerge after the paper is published, and this may not be reflected in the results.
Because it is difficult to comprehensively cover all relevant studies, some studies may have been missed.
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