European Statistics Awards for nowcasting: 3rd round
Eurostat is happy to announce the third round of the European Statistics Awards for nowcasting.
Nowcasting involves forecasting time series values promptly, typically before the reference period ends. The upcoming competition will focus on international trade in goods, specifically imports and exports to countries outside the EU and on exports within the EU.
To participate, teams of up to 5 members with expertise in time series analysis, forecasting, or nowcasting must submit - for every month during a six-month period - point estimates for the selected time series for each of the 27 EU countries. Participants can choose to work on any or all of the 3 available time series.
In this competition, teams will be evaluated based on the following criteria:
- accuracy of their nowcasts (Accuracy award);
- potential for their methods to be reused and scaled up to produce European statistics (Reusability award);
- use of an innovative approach (Innovativity award).
The competition offers teams an opportunity to showcase their skills and methods, with the opportunity to win up to €10 000 awards per time series (€3 000 for Accuracy, €2 000 for Innovativity, and €5 000 for Reusability).
In total, a team could win up to €30 000 by securing first place in all 3 categories across all 3 time series. Additionally, second and third place prizes for the Accuracy Award are €2 000 and €1 000.
The competition registration will be open until 30 October 2024. More information can be found here.
