It's TIME: Towards the Next Generation of Time Series Forecasting Benchmarks

Time series foundation models (TSFMs) are revolutionizing the forecasting landscape from specific dataset modeling to generalizable task evaluation. However, we contend that existing benchmarks exhibit common limitations in four dimensions: constrained data composition dominated by reused legacy sources, compromised data integrity lacking rigorous quality assurance, misaligned task formulations detached from real-world contexts, and rigid analysis perspectives that obscure generalizable insights. To bridge these gaps, we introduce TIME, a next-generation task-centric benchmark comprising 50 fresh datasets and 98 forecasting tasks, tailored for strict zero-shot TSFM evaluation free from data leakage. Integrating large language models and human expertise, we establish a human-in-the-loop benchmark construction pipeline to ensure high data integrity and redefine task formulation by aligning forecasting configurations with real-world operational requirements and variate predictability. Furthermore, we propose a novel pattern-level evaluation perspective that moves beyond traditional dataset-level evaluations based on static meta labels. By leveraging structural time series features to characterize intrinsic temporal properties, this approach offers generalizable insights into model capabilities across diverse patterns. We evaluate 12 TSFMs and establish a multi-granular leaderboard to facilitate in-depth analysis and visualized inspection. The leaderboard is available at https://huggingface.co/spaces/Real-TSF/TIME-leaderboard.

While powerful new AI models are being developed to forecast time-dependent data like weather and sales, the current tests used to evaluate them are often outdated, flawed, or disconnected from reality. To solve this, we introduce "TIME," a massive, high-quality testing framework featuring 50 fresh datasets designed to rigorously measure how well these AI models actually perform in true-to-life scenarios. By evaluating 12 top models, we also provide a public leaderboard to clearly show which AI is best equipped to predict different real-world patterns.