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Article
Publication date: 1 August 2023

M. Mary Victoria Florence and E. Priyadarshini

This study aims to propose the use of time series autoregressive integrated moving average (ARIMA) models to predict gas path performance in aero engines. The gas path is a…

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Abstract

Purpose

This study aims to propose the use of time series autoregressive integrated moving average (ARIMA) models to predict gas path performance in aero engines. The gas path is a critical component of an aero engine and its performance is essential for safe and efficient operation of the engine.

Design/methodology/approach

The study analyzes a data set of gas path performance parameters obtained from a fleet of aero engines. The data is preprocessed and then fitted to ARIMA models to predict the future values of the gas path performance parameters. The performance of the ARIMA models is evaluated using various statistical metrics such as mean absolute error, mean squared error and root mean squared error. The results show that the ARIMA models can accurately predict the gas path performance parameters in aero engines.

Findings

The proposed methodology can be used for real-time monitoring and controlling the gas path performance parameters in aero engines, which can improve the safety and efficiency of the engines. Both the Box-Ljung test and the residual analysis were used to demonstrate that the models for both time series were adequate.

Research limitations/implications

To determine whether or not the two series were stationary, the Augmented Dickey–Fuller unit root test was used in this study. The first-order ARIMA models were selected based on the observed autocorrelation function and partial autocorrelation function.

Originality/value

Further, the authors find that the trend of predicted values and original values are similar and the error between them is small.

Details

Aircraft Engineering and Aerospace Technology, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1748-8842

Keywords

Article
Publication date: 20 March 2024

Vinod Bhatia and K. Kalaivani

Indian railways (IR) is one of the largest railway networks in the world. As a part of its strategic development initiative, demand forecasting can be one of the indispensable…

Abstract

Purpose

Indian railways (IR) is one of the largest railway networks in the world. As a part of its strategic development initiative, demand forecasting can be one of the indispensable activities, as it may provide basic inputs for planning and control of various activities such as coach production, planning new trains, coach augmentation and quota redistribution. The purpose of this study is to suggest an approach to demand forecasting for IR management.

Design/methodology/approach

A case study is carried out, wherein several models i.e. automated autoregressive integrated moving average (auto-ARIMA), trigonometric regressors (TBATS), Holt–Winters additive model, Holt–Winters multiplicative model, simple exponential smoothing and simple moving average methods have been tested. As per requirements of IR management, the adopted research methodology is predominantly discursive, and the passenger reservation patterns over a five-year period covering a most representative train service for the past five years have been employed. The relative error matrix and the Akaike information criterion have been used to compare the performance of various models. The Diebold–Mariano test was conducted to examine the accuracy of models.

Findings

The coach production strategy has been proposed on the most suitable auto-ARIMA model. Around 6,000 railway coaches per year have been produced in the past 3 years by IR. As per the coach production plan for the year 2023–2024, a tentative 6551 coaches of various types have been planned for production. The insights gained from this paper may facilitate need-based coach manufacturing and optimum utilization of the inventory.

Originality/value

This study contributes to the literature on rail ticket demand forecasting and adds value to the process of rolling stock management. The proposed model can be a comprehensive decision-making tool to plan for new train services and assess the rolling stock production requirement on any railway system. The analysis may help in making demand predictions for the busy season, and the management can make important decisions about the pricing of services.

Details

foresight, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1463-6689

Keywords

Article
Publication date: 25 September 2023

R.S. Sreerag and Prasanna Venkatesan Shanmugam

The choice of a sales channel for fresh vegetables is an important decision a farmer can make. Typically, the farmers rely on their personal experience in directing the produce to…

Abstract

Purpose

The choice of a sales channel for fresh vegetables is an important decision a farmer can make. Typically, the farmers rely on their personal experience in directing the produce to a sales channel. This study examines how sales forecasting of fresh vegetables along multiple channels enables marginal and small-scale farmers to maximize their revenue by proportionately allocating the produce considering their short shelf life.

Design/methodology/approach

Machine learning models, namely long short-term memory (LSTM), convolution neural network (CNN) and traditional methods such as autoregressive integrated moving average (ARIMA) and weighted moving average (WMA) are developed and tested for demand forecasting of vegetables through three different channels, namely direct (Jaivasree), regulated (World market) and cooperative (Horticorp).

Findings

The results show that machine learning methods (LSTM/CNN) provide better forecasts for regulated (World market) and cooperative (Horticorp) channels, while traditional moving average yields a better result for direct (Jaivasree) channel where the sales volume is less as compared to the remaining two channels.

Research limitations/implications

The price of vegetables is not considered as the government sets the base price for the vegetables.

Originality/value

The existing literature lacks models and approaches to predict the sales of fresh vegetables for marginal and small-scale farmers of developing economies like India. In this research, the authors forecast the sales of commonly used fresh vegetables for small-scale farmers of Kerala in India based on a set of 130 weekly time series data obtained from the Kerala Horticorp.

Details

Journal of Agribusiness in Developing and Emerging Economies, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2044-0839

Keywords

Article
Publication date: 12 March 2024

Aslina Nasir and Yeny Nadira Kamaruzzaman

This study was conducted to forecast the monthly number of tuna landings between 2023 and 2030 and determine whether the estimated number meets the government’s target.

Abstract

Purpose

This study was conducted to forecast the monthly number of tuna landings between 2023 and 2030 and determine whether the estimated number meets the government’s target.

Design/methodology/approach

The ARIMA and seasonal ARIMA (SARIMA) models were employed for time series forecasting of tuna landings from the Malaysian Department of Fisheries. The best ARIMA (p, d, q) and SARIMA(p, d, q) (P, D, Q)12 model for forecasting were determined based on model identification, estimation and diagnostics.

Findings

SARIMA(1, 0, 1) (1, 1, 0)12 was found to be the best model for forecasting tuna landings in Malaysia. The result showed that the fluctuation of monthly tuna landings between 2023 and 2030, however, did not achieve the target.

Research limitations/implications

This study provides preliminary ideas and insight into whether the government’s target for fish landing stocks can be met. Impactful results may guide the government in the future as it plans to improve the insufficient supply of tuna.

Practical implications

The outcome of this study could raise awareness among the government and industry about how to improve efficient strategies. It is to ensure the future tuna landing meets the targets, including increasing private investment, improving human capital in catch and processing, and strengthening the system and technology development in the tuna industry.

Originality/value

This paper is important to predict the trend of monthly tuna landing stock in the next eight years, from 2023 to 2030, and whether it can achieve the government’s target of 150,000 metric tonnes.

Details

International Journal of Social Economics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0306-8293

Keywords

Open Access
Article
Publication date: 15 December 2023

Isuru Udayangani Hewapathirana

This study explores the pioneering approach of utilising machine learning (ML) models and integrating social media data for predicting tourist arrivals in Sri Lanka.

Abstract

Purpose

This study explores the pioneering approach of utilising machine learning (ML) models and integrating social media data for predicting tourist arrivals in Sri Lanka.

Design/methodology/approach

Two sets of experiments are performed in this research. First, the predictive accuracy of three ML models, support vector regression (SVR), random forest (RF) and artificial neural network (ANN), is compared against the seasonal autoregressive integrated moving average (SARIMA) model using historical tourist arrivals as features. Subsequently, the impact of incorporating social media data from TripAdvisor and Google Trends as additional features is investigated.

Findings

The findings reveal that the ML models generally outperform the SARIMA model, particularly from 2019 to 2021, when several unexpected events occurred in Sri Lanka. When integrating social media data, the RF model performs significantly better during most years, whereas the SVR model does not exhibit significant improvement. Although adding social media data to the ANN model does not yield superior forecasts, it exhibits proficiency in capturing data trends.

Practical implications

The findings offer substantial implications for the industry's growth and resilience, allowing stakeholders to make accurate data-driven decisions to navigate the unpredictable dynamics of Sri Lanka's tourism sector.

Originality/value

This study presents the first exploration of ML models and the integration of social media data for forecasting Sri Lankan tourist arrivals, contributing to the advancement of research in this domain.

Details

Journal of Tourism Futures, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2055-5911

Keywords

Article
Publication date: 22 February 2024

Ruby Khan

The purpose of this study is to analyze the fluctuations in gold prices within the Saudi Arabian market and to develop a reliable forecasting model to aid market participants and…

Abstract

Purpose

The purpose of this study is to analyze the fluctuations in gold prices within the Saudi Arabian market and to develop a reliable forecasting model to aid market participants and policymakers in making informed decisions.

Design/methodology/approach

In this study, we employ a rigorous time series analysis methodology, including the ARIMA (Auto Regressive Integrated Moving Average) model, to analyze historical gold price data in the Saudi Arabian market. The approach involves identifying optimal model parameters and assessing forecast accuracy to provide actionable insights for market participants.

Findings

The study showcases that the autoregressive properties of past gold prices play a pivotal role in capturing the inherent serial correlation within the market, enabling the ARIMA model to effectively forecast future gold price movements with accuracy.

Research limitations/implications

Our study primarily focuses on quantitative analysis, whereas few qualitative parameters are not included. Future studies may benefit from incorporating qualitative factors and expert opinions to enhance the robustness of gold price predictions and capture the full spectrum of market dynamics.

Social implications

Participants and policymakers may find this study helpful in navigating the complicated Saudi Arabian gold market. By understanding financial stability and investment decisions more thoroughly, individuals and institutions may be able to manage their portfolios more effectively.

Originality/value

By combining historical insights with advanced ARIMA modeling techniques, this research provides valuable insight into gold price dynamics in the Saudi Arabian market.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 15 March 2022

S. Pratibha and M. Krishna

The study attempts to examine the effect of the COVID-19 pandemic on the economic growth and public debt of the Indian economy. The authors also attempt to make quarterly…

Abstract

Purpose

The study attempts to examine the effect of the COVID-19 pandemic on the economic growth and public debt of the Indian economy. The authors also attempt to make quarterly projections of economic growth and external debt (ED) for the next five years. The objective is to understand how much time the economy takes to recover and at what pace. Consequently, this study elucidates the composition of debt after the crisis in the next five years.

Design/methodology/approach

To predict India's gross domestic product (GDP) and ED for the next five years, the authors used an auto-regressive integrated moving average (ARIMA) model. This model was built under a Box–Jenkins methodology (Box and Jenkins, 1976) and was subjected to an augmented Dickey–Fuller (ADF) test to check the stationarity of the data. The methodology includes three main steps to estimate and forecast the model: identification, estimation, and diagnostic and forecasting.

Findings

The study finds that the outbreak of the COVID-19 pandemic has significant implications for economic growth and public debt. The economy faced contraction in the first quarter of the year 2020 due to the suspension of economic activities and still struggling with the negative values of GDP. The forecasting results reveal that ED will continue to grow to meet the increasing health expenditure needs, and GDP will also bounce back slowly after the end of the year 2021. It has been noticed that the recurrent crisis derails the developing economies from the path of sustainable development to a prolonged economic slump with mounting public debt.

Originality/value

The study examines the impact of the COVID-19 pandemic on economic growth and public debt with particular reference to India. To the best of the authors’ knowledge, this is the first time the quarterly projections for GDP and ED have been made after the COVID-19 crisis.

Details

Journal of Economic and Administrative Sciences, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1026-4116

Keywords

Article
Publication date: 24 April 2024

Haiyan Song and Hanyuan Zhang

The aim of this paper is to provide a narrative review of previous research on tourism demand modelling and forecasting and potential future developments.

Abstract

Purpose

The aim of this paper is to provide a narrative review of previous research on tourism demand modelling and forecasting and potential future developments.

Design/methodology/approach

A narrative approach is taken in this review of the current body of knowledge.

Findings

Significant methodological advancements in tourism demand modelling and forecasting over the past two decades are identified.

Originality/value

The distinct characteristics of the various methods applied in the field are summarised and a research agenda for future investigations is proposed.

目的

本文旨在对先前关于旅游需求建模和预测的研究进行叙述性回顾并对未来潜在发展进行展望。

设计/方法

本文采用叙述性回顾方法对当前知识体系进行了评论。

研究结果

本文确认了过去二十年旅游需求建模和预测方法论方面的重要进展。

独创性

本文总结了该领域应用的各种方法的独特特征, 并对未来研究提出了建议。

Objetivo

El objetivo de este documento es ofrecer una revisión narrativa de la investigación previa sobre modelización y previsión de la demanda turística y los posibles desarrollos futuros.

Diseño/metodología/enfoque

En esta revisión del marco actual de conocimientos sobre modelización y previsión de la demanda turística y los posibles desarrollos futuros,se adopta un enfoque narrativo.

Resultados

Se identifican avances metodológicos significativos en la modelización y previsión de la demanda turística en las dos últimas décadas.

Originalidad

Se resumen las características propias de los diversos métodos aplicados en este campo y se propone una agenda de investigación para futuros trabajos.

Article
Publication date: 4 July 2023

Zicheng Zhang, Xinyue Lin, Shaonan Shan and Zhaokai Yin

This study aims to analyze government hotline text data and generating forecasts could enable the effective detection of public demands and help government departments explore…

Abstract

Purpose

This study aims to analyze government hotline text data and generating forecasts could enable the effective detection of public demands and help government departments explore, mitigate and resolve social problems.

Design/methodology/approach

In this study, social problems were determined and analyzed by using the time attributes of government hotline data. Social public events with periodicity were quantitatively analyzed via the Prophet model. The Prophet model is decided after running a comparison study with other widely applied time series models. The validation of modeling and forecast was conducted for social events such as travel and educational services, human resources and public health.

Findings

The results show that the Prophet algorithm could generate relatively the best performance. Besides, the four types of social events showed obvious trends with periodicities and holidays and have strong interpretable results.

Originality/value

The research could help government departments pay attention to time dependency and periodicity features of the hotline data and be aware of early warnings of social events following periodicity and holidays, enabling them to rationally allocate resources to handle upcoming social events and problems and better promoting the role of the big data structure of government hotline data sets in urban governance innovations.

Details

Library Hi Tech, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0737-8831

Keywords

Article
Publication date: 27 March 2024

Xiaomei Liu, Bin Ma, Meina Gao and Lin Chen

A time-varying grey Fourier model (TVGFM(1,1,N)) is proposed for the simulation of variable amplitude seasonal fluctuation time series, as the performance of traditional grey…

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Abstract

Purpose

A time-varying grey Fourier model (TVGFM(1,1,N)) is proposed for the simulation of variable amplitude seasonal fluctuation time series, as the performance of traditional grey models can't catch the time-varying trend well.

Design/methodology/approach

The proposed model couples Fourier series and linear time-varying terms as the grey action, to describe the characteristics of variable amplitude and seasonality. The truncated Fourier order N is preselected from the alternative order set by Nyquist-Shannon sampling theorem and the principle of simplicity, then the optimal Fourier order is determined by hold-out method to improve the robustness of the proposed model. Initial value correction and the multiple transformation are also studied to improve the precision.

Findings

The new model has a broader applicability range as a result of the new grey action, attaining higher fitting and forecasting accuracy. The numerical experiment of a generated monthly time series indicates the proposed model can accurately fit the variable amplitude seasonal sequence, in which the mean absolute percentage error (MAPE) is only 0.01%, and the complex simulations based on Monte-Carlo method testify the validity of the proposed model. The results of monthly electricity consumption in China's primary industry, demonstrate the proposed model catches the time-varying trend and has good performances, where MAPEF and MAPET are below 5%. Moreover, the proposed TVGFM(1,1,N) model is superior to the benchmark models, grey polynomial model (GMP(1,1,N)), grey Fourier model (GFM(1,1,N)), seasonal grey model (SGM(1,1)), seasonal ARIMA model seasonal autoregressive integrated moving average model (SARIMA) and support vector regression (SVR).

Originality/value

The parameter estimates and forecasting of the new proposed TVGFM are studied, and the good fitting and forecasting accuracy of time-varying amplitude seasonal fluctuation series are testified by numerical simulations and a case study.

Details

Grey Systems: Theory and Application, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2043-9377

Keywords

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