FITS: Modeling Time Series with 10k Parameters

In this paper, we introduce FITS, a lightweight yet powerful model for time series analysis. Unlike existing models that directly process raw time-domain data, FITS operates on the principle that time series can be manipulated through interpolation in the complex frequency domain, achieving performance comparable to state-ofthe-art models for time series forecasting and anomaly detection tasks. Notably, FITS accomplishes this with a svelte profile of just about 10k parameters, making it ideally suited for edge devices and paving the way for a wide range of applications.