Explanation of terms of grey forecasting models

Abstract

PurposeThe purpose of this paper is to present the terms of grey forecasting models and techniques.Design/methodology/approachThe definitions of basic terms about grey forecasting models and techniques are presented one by one.FindingsThe reader could know the basic explanation about the important terms about various grey forecasting models and techniques from this paper.Practical implicationsMany of the authors’ colleagues thought that unified definitions of key terms would be beneficial for both the readers and the authors.Originality/valueIt is a fundamental work to standardise all the definitions of terms for a new discipline. It is also propitious to spread and universal of grey system theory.