PROGNOSIS, PREDICTIONS, FORECASTING ETC.

Prognosis

Prognosis = a forecast of the future course, or outcome, of a situation; a prediction ” (Daigle 2014, p. 7) “

“Prognostics is the ability to predict future events, conditional on anticipated usage and environmental conditions, significantly contributes to a system’s resilience for safe and efficient operation.” (Sankararaman/Abhinav/Goebel 2014, p. 533) “(…)

To prognosticate is “to foretell from signs or symptoms: predict” (Merriam Webster Dictionary 2019)

Prediction and Forecasting

“Prediction is concerned with estimating the outcomes for unseen data. (…) you fit a model to a training data set, which results in an estimator f^(x) that can make predictions for new samples x.” (Döring 2018)

“Forecasting is a sub-discipline of prediction in which we are making predictions about the future, on the basis of time-series data.” (Döring 2018)

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References

Daigle, Matthew (2014): Model-based prognostics. Prognostics center of excellence. Intelligent systems division. Nasa ames research center.

Https://www.Phmsociety.Org/sites/phmsociety.Org/files/daigle-modelbasedprognostics-tutorial-phm2014_1.Pdf

Döring, Matthias (2018): prediction vs forecasting. Predictions do not always concern the future … https://www.Datascienceblog.Net/post/machine-learning/forecasting_vs_prediction/

Merriam Webster Dictionary (2019): Progosticate. Http://www.Merriam-webster.Com/dictionary/prognosticate

Sankararaman, Shankar ; Abhinav, Saxena ; Goebel, Kai G (2014): Are current prognostic performance evaluation practices sufficient and meaningful? Annual conference of the prognostics and health management society 2014. Nasa ames research center, Moffett field, ca 94035, USA