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Article
Publication date: 17 August 2012

Sifeng Liu, Jeffrey Forrest and Yingjie Yang

The purpose of this paper is to introduce the elementary concepts and fundamental principles of grey systems and the main components of grey systems theory. Also to…

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1831

Abstract

Purpose

The purpose of this paper is to introduce the elementary concepts and fundamental principles of grey systems and the main components of grey systems theory. Also to discuss the astonishing progress that grey systems theory has made in the world of learning and its wide‐ranging applications in the entire spectrum of science.

Design/methodology/approach

The characteristics of unascertained systems including incomplete information and inaccuracies in data are analysed and four uncertain theories: probability statistics, fuzzy mathematics, grey system and rough set theory are compared. The scientific principle of simplicity and how precise models suffer from inaccuracies are also shown.

Findings

The four uncertain theories, probability statistics, fuzzy mathematics, grey system and rough set theory are examined with different research objects, different basic sets, different methods and procedures, different data requirements, different emphasis, different objectives and different characteristics.

Practical implications

The scientific principle of simplicity and how precise models suffer from inaccuracies are shown. So, precise models are not necessarily an effective means to deal with complex matters, especially in the case that the available information is incomplete and the collected data inaccurate.

Originality/value

The elementary concepts and fundamental principles of grey systems and the main components of grey systems theory are introduced briefly. The reader is given a general picture of grey systems theory as a new method for studying problems where partial information is known, partial information is unknown; especially for uncertain systems with few data points and poor information.

Details

Grey Systems: Theory and Application, vol. 2 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 7 August 2009

Sifeng Liu, Jeffrey Forrest and Robert Vallee

The purpose of this paper is to present the scientific background from which grey systems theory came into being, the astonishing progress that grey systems theory has…

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1038

Abstract

Purpose

The purpose of this paper is to present the scientific background from which grey systems theory came into being, the astonishing progress that grey systems theory has made in the world of learning and its wide‐ranging applications in the entire spectrum of science.

Design/methodology/approach

The grey uncertainty is compared with other kinds of uncertainty such as stochastic uncertainty, unascertainty, fuzzy and rough uncertainty.

Findings

The advances in grey systems theory and its various successful applications are introduced individually by algorithms of grey numbers and grey algebraic systems, grey dynamic models and grey predictions, grey optimization analysis for decision making, grey control models.

Research limitations/implications

Many scientific theories require the unremitting efforts of several generations of people and have gone through hundreds of years before reaching maturity and perfection. Grey systems theory is still in its growth period. So, it is unavoidable that there exist immature and imperfect parts in the theory.

Originality/value

Grey systems theory is a new method for studying problems of uncertainty with few data points and poor information. This new theory studies small samples and systems with poor information, which have partial information known, partial information unknown. It describes adequately and monitors effectively systems' operations and evolutions through extracting valuable information from the little known information. Grey systems theory comes into being along with the development of modern systems science and uncertainty systems theories and methods. It is also a result of deepened perceptivity about uncertain systems.

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Kybernetes, vol. 38 no. 7/8
Type: Research Article
ISSN: 0368-492X

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Article
Publication date: 3 August 2015

Delcea Camelia

As the grey systems theory has been used over the time in different economic areas, in the following, a short literature review will be put forward, starting from the…

Abstract

Purpose

As the grey systems theory has been used over the time in different economic areas, in the following, a short literature review will be put forward, starting from the usage of these theory in the supply chain management, decision-making process, financial performance evaluation, credit risk, energy consumption, investment efficiency, etc. The purpose of this paper is to identify some key studies from all the economic areas in which the grey systems can be used in order to open and to bring to the researchers new domains in which they can manifest their interest and in which they can successfully use the methods offered by the grey systems theory.

Design/methodology/approach

Using the search engine offered by the Web of Science, a literature review has been performed for the economic grey systems applications developed over the time on both economic diagnosis and system’s forecasting. In addition, some hybrid grey systems theory – artificial intelligence techniques models have also been presented.

Findings

The grey systems theory has brought its contribution to numerous economic application from various fields such as: supply chain management, decision-making process, financial performance evaluation, credit risk, energy consumption, investment efficiency, firms’ bankruptcy, product development, consumer income, monetization ratio, etc.

Research limitations/implications

The present paper identifies the some of the most representative examples in which the grey theory has been used, but, in the same time, there are a lot of studies that have not been mentioned here due to the lack of space.

Originality/value

Unlike other review papers written on the grey systems theory area, the present paper is only focusing on the economic applications in which this theory has been successfully used, bringing to the reader a general overview on this field and, in the same time, enabling new research perspectives.

Details

Grey Systems: Theory and Application, vol. 5 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 6 July 2021

Xu Peng, Xiang Li and Xiao Yang

In order to more accurately predict the dynamics of the e-commerce market and increase the comprehensive value of the circular e-commerce industry, proposes to use Grey

Abstract

Purpose

In order to more accurately predict the dynamics of the e-commerce market and increase the comprehensive value of the circular e-commerce industry, proposes to use Grey system theory to analyze the circular economy of the e-commerce market.

Design/methodology/approach

Construct a Grey system theory model, analyze the big data of e-commerce and circular economy of the e-commerce market and predict the development potential of China's e-commerce market.

Findings

The results show that the Grey system theory model can play an important role in the data analysis of circular economy of the e-commerce market.

Originality/value

Use Grey model to analyze e-commerce data, discover e-commerce market rules and problems and then optimize e-commerce market.

Details

Journal of Enterprise Information Management, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1741-0398

Keywords

Content available
Article
Publication date: 22 October 2019

Li Xuemei, Yun Cao, Junjie Wang, Yaoguo Dang and Yin Kedong

Research on grey systems is becoming more sophisticated, and grey relational and prediction analyses are receiving close review worldwide. Particularly, the application of…

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1349

Abstract

Purpose

Research on grey systems is becoming more sophisticated, and grey relational and prediction analyses are receiving close review worldwide. Particularly, the application of grey systems in marine economics is gaining importance. The purpose of this paper is to summarize and review literature on grey models, providing new directions in their application in the marine economy.

Design/methodology/approach

This paper organized seminal studies on grey systems published by Chinese core journal database – CNKI, Web of Science and Elsevier from 1982 to 2018. After searching the aforementioned database for the said duration, the authors used the CiteSpace visualization tools to analyze them.

Findings

The authors sorted the studies according to their countries/regions, institutions, keywords and categories using the CiteSpace tool; analyzed current research characteristics on grey models; and discussed their possible applications in marine businesses, economy, scientific research and education, marine environment and disasters. Finally, the authors pointed out the development trend of grey models.

Originality/value

Although researches are combining grey theory with fractals, neural networks, fuzzy theory and other methods, the applications, in terms of scope, have still not met the demand. With the increasingly in-depth research in marine economics and management, international marine economic research has entered a new period of development. Grey theory will certainly attract scholars’ attention, and its role in marine economy and management will gain considerable significance.

Details

Marine Economics and Management, vol. 2 no. 2
Type: Research Article
ISSN: 2516-158X

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Article
Publication date: 1 February 2016

Sifeng Liu, Yingjie Yang, Naiming Xie and Jeffrey Forrest

The purpose of this paper is to summarize the progress in grey system research during 2000-2015, so as to present some important new concepts, models, methods and a new…

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1483

Abstract

Purpose

The purpose of this paper is to summarize the progress in grey system research during 2000-2015, so as to present some important new concepts, models, methods and a new framework of grey system theory.

Design/methodology/approach

The new thinking, new models and new methods of grey system theory and their applications are presented in this paper. It includes algorithm rules of grey numbers based on the “kernel” and the degree of greyness of grey numbers, the concept of general grey numbers, the synthesis axiom of degree of greyness of grey numbers and their operations; the general form of buffer operators of grey sequence operators; the four basic models of grey model GM(1,1), such as even GM, original difference GM, even difference GM, discrete GM and the suitable sequence type of each basic model, and suitable range of most used grey forecasting models; the similarity degree of grey incidences, the closeness degree of grey incidences and the three-dimensional absolute degree of grey incidence of grey incidence analysis models; the grey cluster model based on center-point and end-point mixed triangular whitenization functions; the multi-attribute intelligent grey target decision model, the two stages decision model with grey synthetic measure of grey decision models; grey game models, grey input-output models of grey combined models; and the problems of robust stability for grey stochastic time-delay systems of neutral type, distributed-delay type and neutral distributed-delay type of grey control, etc. And the new framework of grey system theory is given as well.

Findings

The problems which remain for further studying are discussed at the end of each section. The reader could know the general picture of research and developing trend of grey system theory from this paper.

Practical implications

A lot of successful practical applications of the new models to solve various problems have been found in many different areas of natural science, social science and engineering, including spaceflight, civil aviation, information, metallurgy, machinery, petroleum, chemical industry, electrical power, electronics, light industries, energy resources, transportation, medicine, health, agriculture, forestry, geography, hydrology, seismology, meteorology, environment protection, architecture, behavioral science, management science, law, education, military science, etc. These practical applications have brought forward definite and noticeable social and economic benefits. It demonstrates a wide range of applicability of grey system theory, especially in the situation where the available information is incomplete and the collected data are inaccurate.

Originality/value

The reader is given a general picture of grey systems theory as a new model system and a new framework for studying problems where partial information is known; especially for uncertain systems with few data points and poor information. The problems remaining for further studying are identified at the end of each section.

Details

Grey Systems: Theory and Application, vol. 6 no. 1
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 10 July 2007

Guo‐Dong Li, Daisuke Yamaguchi and Masatake Nagai

This paper aims to resolve the uncertain problem in suppliers selection chain management system through using the proposed multiple attribute decision‐making (MADM) approach.

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762

Abstract

Purpose

This paper aims to resolve the uncertain problem in suppliers selection chain management system through using the proposed multiple attribute decision‐making (MADM) approach.

Design/methodology/approach

The approach which combines grey system theory with rough set theory is proposed.

Findings

This proposed approach take advantage of mathematical analysis power of grey system theory and at the same time take advantage of data mining and knowledge discovery power of rough set theory. It will be suitable to decision making under a more uncertain environment.

Originality/value

Provides a viewpoint on the attribute values and attribute weights of rough set decision table for all alternatives are decided by grey number based on grey system theory. The best ideal supplier can be decided by grey relational analysis based on grey number.

Details

Journal of Modelling in Management, vol. 2 no. 2
Type: Research Article
ISSN: 1746-5664

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Article
Publication date: 1 August 2016

Wuwei Li

For the studies whose purposes are to evaluate the relationship between industrial characteristics and innovation activities of the enterprises, there are some limitations…

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1208

Abstract

Purpose

For the studies whose purposes are to evaluate the relationship between industrial characteristics and innovation activities of the enterprises, there are some limitations in the measures of industrial characteristics and using traditional statistical techniques. The purpose of this paper is to investigate the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries using grey system theory. The research results show that grey system theory is suitable to investigate the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries.

Design/methodology/approach

This paper proposes the measures of industrial characteristics and innovation capabilities of high-tech enterprises. First, based on the data on Chinese large and medium-sized high-tech enterprises for the period of 2011-2013, this paper applies grey relational analysis to identify the relatively most important indexes on affecting innovation capabilities of Chinese high-tech enterprises. Second, based on the results from grey relational analysis, this study draws a ranking of the five Chinese high-tech industries in terms of innovation capabilities by grey decision making. Finally, based on the results from grey decision making, this study applies GM (0, N) model to investigate the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries.

Findings

The results of this study show that in the evaluation indexes system of innovation capabilities of high-tech enterprises, personnel in R & D institutions, R & D personnel, internal expenditure on R & D, expenditure on new product development, expenditure on technology imports, expenditure on technology renovation, and expenditure on technology assimilation and absorption are relatively most important elements affecting innovation capabilities of Chinese high-tech enterprises. In addition, the two top ranking on innovation capabilities are manufacture of electronic equipment and communication equipment, and manufacture of medicines. At last, the findings indicate that in the measures of industrial characteristics, the three top ranking on affecting innovation capabilities of Chinese high-tech enterprises are R & D intensity, technology absorption intensity of indigenous high-tech enterprises and foreign-invested enterprises size. The opening level is in the middle position. Technology intensity, market concentration, and state-owned enterprises size are the three bottom ranking on affecting innovation capabilities of Chinese high-tech enterprises.

Research limitations/implications

This study has some limitations. First, this study is limited to Chinese high-tech industries. The findings may not be applicable to other countries’ high-tech industries. Further studies with other countries’ high-tech industries could be extended and examined how industrial characteristics affect innovation capabilities of the firms in these industries. Second, the measures of industrial characteristics proposed in this study are somewhat theoretically weak. In the future, the authors will further improve the current analysis, and develop the measures of industrial characteristics. Finally, with the advent of the more data with the consistent statistical coverage released by China’s National Bureau of Statistics during the more continuous years, other methods, such as panel data regression model in econometrics could be used to evaluate the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries. By then, the scholars can compare the results from grey system theory and those from panel data regression model in econometrics.

Practical implications

Appropriate industrial environment is favorable for Chinese high-tech enterprises to feed their innovation capabilities. Scientific evaluation on the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries is of great significance for Chinese high-tech enterprises in exerting technological catch-up and promoting their competitive advantage. The purposed measures of industrial characteristics and innovation capabilities of high-tech enterprises in this paper, and combined methodology based on grey system theory could be applied to evaluate the relationship between industrial characteristics and innovation capabilities of Chinese high-tech enterprises.

Originality/value

This paper proposes the measures of industrial characteristics and innovation capabilities of high-tech enterprises, and uses grey system theory to evaluate the relationship between industrial characteristics and innovation capabilities within Chinese high-tech industries.

Details

Grey Systems: Theory and Application, vol. 6 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 3 August 2015

Delcea Camelia

The purpose of this paper is to synthesize the review of the existing literature attached to the grey economic system theory and applications and aims to offer a…

Abstract

Purpose

The purpose of this paper is to synthesize the review of the existing literature attached to the grey economic system theory and applications and aims to offer a comprehensive picture of the contribution brought by the researchers to this particular field. Also, the paper underlines the main research areas within the grey economic theory and applications and serves as an informative summary kit for future research works and research directions.

Design/methodology/approach

For appreciating the scientific progress made since the grey systems theory has been initiated to the present, with an accent on the literature dedicated to the economic field, a bibliometrics analysis has been conducted. The Perish or Publish software was used for extracting the needed data from Google Scholar for the entire period since the appearance of grey systems to now-a-days. In addition, an ISI Web of Science (WoS) search has been performed for extracting the grey economic papers. As the main focus is on the economic subject area of the grey systems, only the papers related to this field have been selected.

Findings

The total number of grey economic paper from both Google Scholar and ISI WoS database, the number of authors, some citation metrics, H-index, authors’ provenience country, papers’ language, etc., have been presented and analysed. Also, a list with the most cited papers in the grey economic relational analysis, grey economic prediction models and grey economic incidence is putted forward.

Practical implications

Through the bibliometric analysis on grey economic papers written over time, a qualitative analysis was performed on this field in order to underline the main research direction, to analyse what has been done in this field and to determine which can be the next research directions that can emerge from here.

Originality/value

The paper succeeds in enlarging the view regarding the usage of grey systems theory in the economic field, offering a suitable analysis on the considered areas. Even though bibliometrics analysis have been conducted on the grey systems theory field, a grey economic bibliometric analysis has not been done yet, to the authors’ knowledge. Therefore, a synthesized of the existing literature attached to the grey economic system theory and applications is presented in order to offer a more comprehensive picture of the contribution brought by the researchers to this particular field.

Details

Grey Systems: Theory and Application, vol. 5 no. 2
Type: Research Article
ISSN: 2043-9377

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Article
Publication date: 1 November 2002

Cheng‐Nan Chen and Shueh‐Chin Ting

Although the applications of grey system theory have been prosperous in the engineering field, there are very few applications to the management field. We argue that this…

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3122

Abstract

Although the applications of grey system theory have been prosperous in the engineering field, there are very few applications to the management field. We argue that this theory is worthy of promotion to the management field. Therefore, the main purpose of this study is to demonstrate the application of grey relation analysis, one part of the grey system theory, by analyzing the topic of service quality and customer satisfaction. Customers of the auto repair industry were chosen to find out the grey relation order of Parasuraman et al.’s ten factors. Tries to prove whether or not service quality and customer satisfaction are two different constructs. Finally, tries to verify the relative importance of technical quality and functional quality on service quality and customer satisfaction. The following is an enumeration of the important conclusions: each quality factor has a different effect upon service quality; each quality factor has a different effect upon customer satisfaction; service quality and customer satisfaction are different constructs in the minds of the consumers; technical quality and functional quality are of equal importance to service quality and customer satisfaction.

Details

International Journal of Quality & Reliability Management, vol. 19 no. 7
Type: Research Article
ISSN: 0265-671X

Keywords

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