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Article
Publication date: 29 April 2021

Huan Wang, Yuhong Wang and Dongdong Wu

To predict the passenger volume reasonably and accurately, this paper fills the gap in the research of quarterly data forecast of railway passenger volume. The research results…

Abstract

Purpose

To predict the passenger volume reasonably and accurately, this paper fills the gap in the research of quarterly data forecast of railway passenger volume. The research results can also provide references for railway departments to plan railway operation lines reasonably and efficiently.

Design/methodology/approach

This paper intends to establish a seasonal cycle first order univariate grey model (GM(1,1) model) combing with a seasonal index. GM (1,1) is termed as the trend equation to fit the railway passenger volume in China from 2014 to 2018. The railway passenger volume in 2019 is used as the experimental data to verify the forecasting effect of the proposed model. The forecasting results of the seasonal cycle GM (1,1) model are compared with the traditional GM (1,1) model, seasonal grey model (SGM(1,1)), Seasonal Autoregressive Integrated Moving Average (SARIMA) model, moving average method and exponential smoothing method. Finally, the authors forecast the railway passenger volume from 2020 to 2022.

Findings

The quarterly data of national railway passenger volume have a clear tendency of cyclical fluctuations and show an annual growth trend. According to the comparison of the modeling results, the authors know that the seasonal cycle GM (1,1) model has the best prediction effect with the mean absolute percentage error of 1.32%. It is much better than the other models, reflecting the feasibility of the proposed model.

Originality/value

As the previous grey prediction model could not solve the series prediction problem with seasonal fluctuation, and there are few research studies on quarterly railway passenger volume forecasting, GM (1,1) model is taken as the trend equation and combined with the seasonal index to construct a combination forecasting model for accurate forecasting results in this study. Besides, considering the impact of the epidemic on passenger volume, the authors introduce a disturbance factor to deal with the forecasting results in 2020, making the modeling results more scientific, practical and referential.

Details

Grey Systems: Theory and Application, vol. 12 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 15 January 2024

Chuanmin Mi, Xiaoyi Gou, Yating Ren, Bo Zeng, Jamshed Khalid and Yuhuan Ma

Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system…

Abstract

Purpose

Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system. Consequently, it fosters reasonable scheduling plans, ensuring the safety of the system and improving the economic dispatching efficiency of the power system.

Design/methodology/approach

First, a new seasonal grey buffer operator in the longitudinal and transverse dimensional perspectives is designed. Then, a new seasonal grey modeling approach that integrates the new operator, full real domain fractional order accumulation generation technique, grey prediction modeling tool and fruit fly optimization algorithm is proposed. Moreover, the rationality, scientificity and superiority of the new approach are verified by designing 24 seasonal electricity consumption forecasting approaches, incorporating case study and amalgamating qualitative and quantitative research.

Findings

Compared with other comparative models, the new approach has superior mean absolute percentage error and mean absolute error. Furthermore, the research results show that the new method provides a scientific and effective mathematical method for solving the seasonal trend power consumption forecasting modeling with impact disturbance.

Originality/value

Considering the development trend of longitudinal and transverse dimensions of seasonal data with impact disturbance and the differences in each stage, a new grey buffer operator is constructed, and a new seasonal grey modeling approach with multi-method fusion is proposed to solve the seasonal power consumption forecasting problem.

Highlights

The highlights of the paper are as follows:

  1. A new seasonal grey buffer operator is constructed.

  2. The impact of shock perturbations on seasonal data trends is effectively mitigated.

  3. A novel seasonal grey forecasting approach with multi-method fusion is proposed.

  4. Seasonal electricity consumption is successfully predicted by the novel approach.

  5. The way to adjust China's power system flexibility in the future is analyzed.

A new seasonal grey buffer operator is constructed.

The impact of shock perturbations on seasonal data trends is effectively mitigated.

A novel seasonal grey forecasting approach with multi-method fusion is proposed.

Seasonal electricity consumption is successfully predicted by the novel approach.

The way to adjust China's power system flexibility in the future is analyzed.

Details

Grey Systems: Theory and Application, vol. 14 no. 2
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 5 July 2022

Xianting Yao and Shuhua Mao

Given the effects of natural and social factors, data on both the supply and demand sides of electricity will produce obvious seasonal fluctuations. The purpose of this article is…

Abstract

Purpose

Given the effects of natural and social factors, data on both the supply and demand sides of electricity will produce obvious seasonal fluctuations. The purpose of this article is to propose a new dynamic seasonal grey model based on PSO-SVR to forecast the production and consumption of electric energy.

Design/methodology/approach

In the model design, firstly, the parameters of the SVR are initially optimized by the PSO algorithm for the estimation of the dynamic seasonal operator. Then, the seasonal fluctuations in the electricity demand data are eliminated using the dynamic seasonal operator. After that, the time series after eliminating of the seasonal fluctuations are used as the training set of the DSGM(1, 1) model, and the corresponding fitted, and predicted values are calculated. Finally, the seasonal reduction is performed to obtain the final prediction results.

Findings

This study found that the electricity supply and demand data have obvious seasonal and nonlinear characteristics. The dynamic seasonal grey model based on PSO-SVR performs significantly better than the comparative model for hourly and monthly data as well as for different time durations, indicating that the model is more accurate and robust in seasonal electricity forecasting.

Originality/value

Considering the seasonal and nonlinear fluctuation characteristics of electricity data. In this paper, a dynamic seasonal grey model based on PSO-SVR is established to predict the consumption and production of electric energy.

Details

Grey Systems: Theory and Application, vol. 13 no. 1
Type: Research Article
ISSN: 2043-9377

Keywords

Article
Publication date: 31 October 2018

Chung-Han Ho, Ping-Teng Chang, Kuo-Chen Hung and Kuo-Ping Lin

The purpose of this paper is to develop a novel intuitionistic fuzzy seasonality regression (IFSR) with particle swarm optimization (PSO) algorithms to accurately forecast air…

Abstract

Purpose

The purpose of this paper is to develop a novel intuitionistic fuzzy seasonality regression (IFSR) with particle swarm optimization (PSO) algorithms to accurately forecast air pollutions, which are typical seasonal time series data. Seasonal time series prediction is a critical topic, and some time series data contain uncertain or unpredictable factors. To handle such seasonal factors and uncertain forecasting seasonal time series data, the proposed IFSR with the PSO method effectively extends the intuitionistic fuzzy linear regression (IFLR).

Design/methodology/approach

The prediction model sets up IFLR with spreads unrestricted so as to correctly approach the trend of seasonal time series data when the decomposition method is used. PSO algorithms were simultaneously employed to select the parameters of the IFSR model. In this study, IFSR with the PSO method was first compared with fuzzy seasonality regression, providing evidence that the concept of the intuitionistic fuzzy set can improve performance in forecasting the daily concentration of carbon monoxide (CO). Furthermore, the risk management system also implemented is based on the forecasting results for decision-maker.

Findings

Seasonal autoregressive integrated moving average and deep belief network were then employed as comparative models for forecasting the daily concentration of CO. The empirical results of the proposed IFSR with PSO model revealed improved performance regarding forecasting accuracy, compared with the other methods.

Originality/value

This study presents IFSR with PSO to accurately forecast air pollutions. The proposed IFSR with PSO model can efficiently provide credible values of prediction for seasonal time series data in uncertain environments.

Details

Industrial Management & Data Systems, vol. 119 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

Article
Publication date: 1 April 2003

David Cranage

One of the most basic pieces of information useful to hospitality operations is gross sales, and the ability to forecast them is strategically important. These forecasts could…

3677

Abstract

One of the most basic pieces of information useful to hospitality operations is gross sales, and the ability to forecast them is strategically important. These forecasts could provide powerful information to cut costs, increase efficient use of resources, and improve the ability to compete in a constantly changing environment. This study tests sophisticated, yet simple‐to‐use time series models to forecast sales. The results show that, with slight re‐arrangement of historical sales data, easy‐to‐use time series models can accurately forecast gross sales.

Details

International Journal of Contemporary Hospitality Management, vol. 15 no. 2
Type: Research Article
ISSN: 0959-6119

Keywords

Article
Publication date: 1 March 1990

Shaw K. Chen, William J. Wrobleski and David J. Brophy

This paper examines the empirical patterns of futures prices volatility by using different seasonal adjustment techniques The average absolute month to month percentage (AAPC…

Abstract

This paper examines the empirical patterns of futures prices volatility by using different seasonal adjustment techniques The average absolute month to month percentage (AAPC) figures are used to describe the extent of smoothness when seasonal adjustment methods are applied. Several interesting patterns are suggested from the observation of different futures contracts. The authors then suggest further that if seasonal patterns do exist for futures prices volatility, it is possible to focus the study of futures prices volatility on the different seasonal filters selection, and/or on the different seasonal models alternatives.

Details

Managerial Finance, vol. 16 no. 3
Type: Research Article
ISSN: 0307-4358

Open Access
Article
Publication date: 16 July 2021

Md Ozair Arshad, Shahbaz Khan, Abid Haleem, Hannan Mansoor, Md Osaid Arshad and Md Ekrama Arshad

Covid-19 pandemic is a unique and extraordinary situation for the globe, which has potentially disrupted almost all aspects of life. In this global crisis, the tourism and…

18326

Abstract

Purpose

Covid-19 pandemic is a unique and extraordinary situation for the globe, which has potentially disrupted almost all aspects of life. In this global crisis, the tourism and hospitality sector has collapsed in almost all parts of the world, and the same is true for India. Therefore, this paper aims to investigate the impact of Covid-19 on the Indian tourism industry.

Design/methodology/approach

This study develops an appropriate model to forecast the expected loss of foreign tourist arrivals (FTAs) in India for 10 months. Since the FTAs follow a seasonal trend, seasonal autoregressive integrated moving average (SARIMA) method has been employed to forecast the expected FTAs in India from March 2020 to December 2020. The results of the proposed model are then compared with the ones obtained by Holt-Winter's (H-W) model to check the robustness of the proposed model.

Findings

The SARIMA model seeks to manifest the monthly arrival of foreign tourists and also elaborates on the progressing expected loss of foreign tourists arrive for the next three quarters is approximately 2 million, 2.3 million and 3.2 million, respectively. Thus, in the next three quarters, there will be an enormous downfall of FTAs, and there is a need to adopt appropriate measures. The comparison demonstrates that SARIMA is a better model than H-W model.

Originality/value

Several studies have been reported on pandemic-affected tourism sectors using different techniques. The earlier pandemic outbreak was controlled and region-specific, but the Covid-19 eruption is a global threat having potential ramifications and strong spreading power. This work is one of the first attempts to study and analyse the impact of Covid-19 on FTAs in India.

Details

Journal of Tourism Futures, vol. 9 no. 1
Type: Research Article
ISSN: 2055-5911

Keywords

Article
Publication date: 1 April 2001

Albert Caruana

Forecasting enables the efficient utilisation of a firm’s resources. There are various types of forecasting models that can be built. Illustrates the steps involved in building a…

3990

Abstract

Forecasting enables the efficient utilisation of a firm’s resources. There are various types of forecasting models that can be built. Illustrates the steps involved in building a forecasting model utilising seasonal regression with a practical example. The model obtained for the carbonated soft drink brand under consideration estimates a growth rate of 3,568 units per month during the last five years and identifies the seasonal effect during each month of the year. The model also computes the cannibalisation effect that the introduction of a brand extension has had. The development of such models can provide a useful input to both marketing and operations planning.

Details

Journal of Product & Brand Management, vol. 10 no. 2
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 26 April 2022

Michela Serrecchia

The aim of this study is to examine the trend over time of the demand for .it domain names.This study first assesses whether there is a phase of growth and expansion or at a point…

Abstract

Purpose

The aim of this study is to examine the trend over time of the demand for .it domain names.This study first assesses whether there is a phase of growth and expansion or at a point of saturation. Second, this research can be useful also to compare researches that have considered other internet metrics and other models.

Design/methodology/approach

This paper describes the forecasting methods used to analyze the internet diffusion in Italy. The domain names under the country code top-level domain “.it” have used as metrics. To predict domain names .it the seasonal auto regressive integrated moving average (SARIMA) model and the Holt-Winters (H-W) methods have been used.

Findings

The results show that, to predict domain names .it the SARIMA model is better than the H-W methods. According to the findings, notwithstanding the forecast of a growth in domain names, the increase is however limited (about 3%), tending to reach a phase of saturation of the market of domain names .it.

Originality/value

In general many authors have studied internet diffusion applying statistical models that follow an S-shaped behavior. On the other hand, the more used diffusion models that follow an S-shape not always provide an adequate description of the Internet growth pattern. To achieve this goal, this paper demonstrates how the time series models, in particular SARIMA model and H-W models, fit well in explaining the spread of the internet.

Open Access
Article
Publication date: 23 April 2018

Desalegn Yayeh Ayal, Maren Radeny, Solomon Desta and Getachew Gebru

Climate variability and extremes adversely affect the livestock sector directly and indirectly by aggravating the prevalence of livestock diseases, distorting production system…

3650

Abstract

Purpose

Climate variability and extremes adversely affect the livestock sector directly and indirectly by aggravating the prevalence of livestock diseases, distorting production system and the sector profitability. This paper aims to examine climate variability and its impact on livestock system and livestock disease among pastoralists in Borana, Southern Ethiopia.

Design/methodology/approach

Data were collected through a combination of quantitative and qualitative methods using household questionnaire, field observations, focus group discussions and key informant interviews. Areal grid dikadal rainfall and temperatures data from 1985 to 2014 were collected from national meteorological agency. The quantitative and qualitative data were analyzed and interpreted using appropriate analytical tools and procedures.

Findings

The result revealed that the study area is hard hit by moisture stress, due to the late onset of rainy seasons, decrease in the number of rainy days and volume of rainfall. The rainfall distribution behavior coupled with the parallel increase in minimum and maximum temperature exacerbated the impact on livestock system and livestock health. Majority of the pastoralists are found to have rightly perceived the very occurrence and manifestations of climate variability and its consequences. Pastoralists are hardly coping with the challenges of climate variability, mainly due to cultural prejudice, poor service delivery and the socio-economic and demographic challenges.

Research limitations/implications

Pastoralists are vulnerable to the adverse impact of climate variability and extreme events.

Practical implications

The finding of the study provides baseline information for practitioners, researchers and policymakers.

Originality/value

This paper provided detailed insights about the rainfall and temperature trend and variability for the past three decades. The finding pointed that pastoralists’ livelihood is under climate variability stress, and it has implications to food insecurity.

Details

International Journal of Climate Change Strategies and Management, vol. 10 no. 4
Type: Research Article
ISSN: 1756-8692

Keywords

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