Abstract

Grey forecasting is a dynamic forecasting model and has been widely used in various fields. In recent years, many scholars have proposed new procedures or new models to improve the precision accuracy of grey forecasting for the fluctuating data sets. However, the prediction accuracy of the grey forecasting models existing may not be always satisfactory in different scenario. For example, the data are highly fluctuating are with lots of noise. In order to deal with this issue, a Fourier Nonlinear Grey Bernoulli Model (1, 1) (abbreviated as F-NGBM (1, 1)) is proposed to enhance the forecasting performance. The proposed model was established by using Fourier series to modify the residual errors of Nonlinear Grey Bernoulli Model (1, 1) (abbreviated as (NGBM (1, 1)). To verify the effectiveness of the proposed model, fluctuation data of the numerical example in Wang et al.’s paper (Wang et al. 2011) and practical application are used. Both of these simulation results demonstrate that the proposed model could forecast more precisely than several different kinds of grey forecasting models. For future direction, this proposed model can be applied to forecast the performance with the high fluctuation data in the different industries.

Talk to us

Join us for a 30 min session where you can share your feedback and ask us any queries you have

Schedule a call

Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.