Using improved grey forecasting models to forecast the output of opto-electronics industry

Dynamic grey platform for efficient forecasting management

“…It integrates artificial intelligence controller and EWMA technique to reduce the forecasting error of GM(1, 1) models. The theoretical experiments chosen to be most appropriate for this study are described in different research efforts [6,13,18,[24][25][26]. Six benchmarking data provided by the previous works have been adopted to verify the effectiveness of our proposed EGM(1, 1) and REGM(1, 1) models.…”

“…These are: T 1 -the application of power demand forecasting [6]; T 2 -the application of tourism demand prediction [18]; T 3 -the application of high technology industrial output forecasting [24]; T 4 -the application of integrated circuit industry prediction [25]; T 5 -the application of the output of opto-electronics industry forecasting [26]; T 6 -the application of fire accidents forecasting [13]. Our experimental test-beds are based on research benchmarking data (T 1 -T 6 ) to verify the effectiveness of proposed novel EGM(1, 1) and REGM(1, 1) models.…”

“…T 1 Applications of improved grey prediction model for power demand forecasting [6] T 2 Predicting tourism demand using fuzzy time series and hybrid grey theory [18] T 3 Using genetic algorithms grey theory to forecast high technology industrial output [24] T 4 Forecasting the output of integrated circuit industry using genetic algorithm based multivariable grey optimization models [25] T 5 Using improved grey forecasting models to forecast the output of opto-electronics industry [26] T 6 Application of Grey-Markov model in forecasting fire accidents [13] …”

“…To assess the effectiveness of the EGM(1, 1) and REGM(1, 1) models, we select the previous 6 research case studies [6,13,18,[24][25][26] for evaluation and verification purposes. These proposed models have shown significant improvement in the predicting precisions of GM(1, 1) models with limited data.…”

Regularized multivariable grey model for stable grey coefficients estimation

“…Among all forecast techniques being developed over the last few decades, the grey model and its alternatives have emerged as powerful tools in various application domains, such as economy (Evans, 2014;Huang & Jane, 2009;Ma, Zhu, & Wang, 2013), industry (Benítez, Paredes, Lodewijks, & Nabais, 2013;Hsu, 2011;Hsu, Liou, & Chuang, 2013), society (Jin, Zhou, Zhang, & Tentzeris, 2012;Pao, Fu, & Tseng, 2012;Wei, Zhou, Wang, & Wu, 2014) and engineering (Chen & Wang, 2012;He, Liu, & Chen, 2012;Ye, Lu, & Liu, 2013). Compared with conventional statistical models, the grey model has three superiorities: (1) requiring few sample size;…”