Workshop on Open Source Forecasting
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Open Source Forecasting in Python: A Survey of Tools, Trends, and Trade-offs

Time series forecasting has become a core component of data-driven decision-making, and the Python ecosystem now offers a rapidly expanding range of specialized tools to support this need. In this session, a comprehensive review will be presented of open-source Python forecasting packages and their technical capabilities, governance models, openness vs. gated designs (including foundation models), and the practical trade-offs that influence tool selection and adoption.
Published

June 26, 2025

Open Source Forecasting in Python: A Survey of Tools, Trends, and Trade-offs

June 26, 04:15 PM

As time series forecasting becomes increasingly central to data-driven decision-making across industries, the Python ecosystem has seen rapid growth in tools tailored to this task.

This talk presents a comprehensive review of the current landscape of open-source forecasting packages in Python, covering frameworks, toolboxes, and few-model-packages.

We will explore not just the technical capabilities - such as model variety, composability, unified interfaces, performance, scalability, and ease of use - but also the governance and openness of these tools.

Attendees will gain insight into how openly governed community projects compare with corporate-backed initiatives, and how the availability (or restriction) of pretrained models, APIs, and infrastructure influences adoption and innovation. The talk also critically examines the trend of gated forecasting models, where core capabilities are locked behind APIs or proprietary layers, which is seeing an especial proliferation around so-called "foundation models", versus fully open-source implementations of the same technologies.

By the end of the session, participants will leave with a nuanced understanding of the strengths, trade-offs, and pitfalls in the current Python forecasting ecosystem, and practical guidance for selecting tools aligned with their organizational values and technical requirements.

An International Institute of Forecasters workshop