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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

Book part
Publication date: 18 January 2022

Francis X. Diebold and Glenn D. Rudebusch

Climate change is a massive multidimensional shift. Temperature shifts, in particular, have important implications for urbanization, agriculture, health, productivity, and…

Abstract

Climate change is a massive multidimensional shift. Temperature shifts, in particular, have important implications for urbanization, agriculture, health, productivity, and poverty, among other things. While much research has documented rising mean temperature levels, the authors also examine range-based measures of daily temperature volatility. Specifically, using data for select US cities over the past half-century, the authors compare the evolving time series dynamics of the average daily temperature (AVG) and the diurnal temperature range (DTR; the difference between the daily maximum and minimum temperatures). The authors characterize trend and seasonality in these two series using linear models with time-varying coefficients. These straightforward yet flexible approximations provide evidence of evolving DTR seasonality and stable AVG seasonality.

Details

Essays in Honor of M. Hashem Pesaran: Prediction and Macro Modeling
Type: Book
ISBN: 978-1-80262-062-7

Keywords

Article
Publication date: 20 November 2023

Thorsten Teichert, Christian González-Martel, Juan M. Hernández and Nadja Schweiggart

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19…

Abstract

Purpose

This study aims to explore the use of time series analyses to examine changes in travelers’ preferences in accommodation features by disentangling seasonal, trend and the COVID-19 pandemic’s once-off disruptive effects.

Design/methodology/approach

Longitudinal data are retrieved by online traveler reviews (n = 519,200) from the Canary Islands, Spain, over a period of seven years (2015 to 2022). A time series analysis decomposes the seasonal, trend and disruptive effects of six prominent accommodation features (view, terrace, pool, shop, location and room).

Findings

Single accommodation features reveal different seasonal patterns. Trend analyses indicate long-term trend effects and short-term disruption effects caused by Covid-19. In contrast, no long-term effect of the pandemic was found.

Practical implications

The findings stress the need to address seasonality at the single accommodation feature level. Beyond targeting specific features at different guest groups, new approaches could allow dynamic price optimization. Real-time insight can be used for the targeted marketing of platform providers and accommodation owners.

Originality/value

A novel application of a time series perspective reveals trends and seasonal changes in travelers’ accommodation feature preferences. The findings help better address travelers’ needs in P2P offerings.

Details

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

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

Book part
Publication date: 1 September 2021

John L. Stanton and Stephen L. Baglione

Product success is contingent on forecasting when a product is needed and how it should be offered. Forecasting accuracy is contingent on the correct forecasting technique. Using…

Abstract

Product success is contingent on forecasting when a product is needed and how it should be offered. Forecasting accuracy is contingent on the correct forecasting technique. Using supermarket data across two product categories, this chapter shows that using a bevy of forecasting methods improves forecasting accuracy. Accuracy is measured by the mean absolute percentage error. The optimal methods for one consumer goods product may be different than for another. The best model varied from sophisticated, most such as autoregressive integrated moving average (ARIMA) and Holt–Winters to a random walk model. Forecasters must be proficient in multiple statistical techniques since the best technique varies within a categories, variety, and product size.

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

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…

18340

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 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

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