Rethinking the Role of LLMs in Time Series Forecasting

Use this page to decide whether the paper is strong enough to influence an eval design. If the signals below are thin, treat it as background context and compare it against the stronger hub pages before making protocol choices.

Abstract

Large language models (LLMs) have been introduced to time series forecasting (TSF) to incorporate contextual knowledge beyond numerical signals. However, existing studies question whether LLMs provide genuine benefits, often reporting comparable performance without LLMs. We show that such conclusions stem from limited evaluation settings and do not hold at scale. We conduct a large-scale study of LLM-based TSF (LLM4TSF) across 8 billion observations, 17 forecasting scenarios, 4 horizons, multiple alignment strategies, and both in-domain and out-of-domain settings. Our results demonstrate that \emph{LLM4TS indeed improves forecasting performance}, with especially large gains in cross-domain generalization. Pre-alignment outperforming post-alignment in over 90\% of tasks. Both pretrained knowledge and model architecture of LLMs contribute and play complementary roles: pretraining is critical under distribution shifts, while architecture excels at modeling complex temporal dynamics. Moreover, under large-scale mixed distributions, a fully intact LLM becomes indispensable, as confirmed by token-level routing analysis and prompt-based improvements. Overall, Our findings overturn prior negative assessments, establish clear conditions under which LLMs are not only useful, and provide practical guidance for effective model design. We release our code at https://github.com/EIT-NLP/LLM4TSF.