Search results for: forecast horizons

Authors: Matteo Bonaventura, Giancarlo Giudici

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This paper analyses the valuation process of companies listed on the Italian Exchange in the period 2000-2009 at their Initial Public Offering (IPO). One the most common valuation techniques declared in the IPO prospectus to determine the offer price is the Discounted Cash Flow (DCF) method. We develop a ‘reverse engineering’ model to discover the short term profitability implied in the offer prices. We show that there is a significant optimistic bias in the estimation of future profitability compared to ex-post actual realization and the mean forecast error is substantially large. Yet we show that such error characterizes also the estimations carried out by analysts evaluating non-IPO companies. The forecast error is larger the faster has been the recent growth of the company, the higher is the leverage of the IPO firm, the more companies issued equity on the market. IPO companies generally exhibit better operating performance before the listing, with respect to comparable listed companies, while after the flotation they do not perform significantly different in term of return on invested capital. Pre-IPO book building activity plays a significant role in partially reducing the forecast error and revising expectations, while the market price of the first day of trading does not contain information for further reducing forecast errors.

Keywords: initial public offerings, DCF, book building, post-IPO profitability drop

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Authors: Josip Vasilj, Petar Sarajcev, Damir Jakus

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One of the major difficulties introduced with wind power penetration is the inherent uncertainty in production originating from uncertain wind conditions. This uncertainty impacts many different aspects of power system operation, especially the balancing power requirements. For this reason, in power system development planing, it is necessary to evaluate the potential uncertainty in future wind power generation. For this purpose, simulation models are required, reproducing the performance of wind power forecasts. This paper presents a wind power forecast error simulation models which are based on the stochastic process simulation. Proposed models capture the most important statistical parameters recognized in wind power forecast error time series. Furthermore, two distinct models are presented based on data availability. First model uses wind speed measurements on potential or existing wind power plant locations, while the seconds model uses statistical distribution of wind speeds.

Keywords: wind power, uncertainty, stochastic process, Monte Carlo simulation

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Authors: Georg Brunnthaller, Sandra Stein, Wilfried Sihn

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Logistics service providers are facing increasing volatility concerning future transport demand. Short-term planning horizons and planning uncertainties lead to reduced capacity utilisation and increasing empty mileage. To overcome these challenges, a model is proposed to continuously pre-plan future transport capacity in order to redesign and adjust the intermodal fleet accordingly. It is expected that the model will enable logistics service providers to organise more economically and ecologically sustainable transport chains in a more flexible way. To further describe such planning aspects, this paper gives a structured literature review on transport planning problems. The focus is on strategic and tactical planning levels, comprising relevant fleet-sizing-, network-design- and choice-of-carriers-problems. Models and their developed solution techniques are presented and the literature review is concluded with an outlook to our future research objectives

Keywords: choice of transport mode, fleet-sizing, freight transport planning, multimodal, review, service network design

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Authors: Abderrahmen Aloulou, Younes Boujelbene

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The current paper displays a new method of extracting information content from options prices by eliminating biases caused by daily variation of contract maturity. Based on Kernel regression tool, this non-parametric technique serves to obtain a spectrum of interpolated options with constant maturity horizons from negotiated optional contracts on the S&P TSX 60 index. This method makes it plausible to compare daily risk neutral densities from which extracting time continuous indicators allows the detection traders attitudes’ evolution, such as, belief homogeneity, asymmetry and extreme Risk Perception. Our findings indicate that the applied method contribute to develop effective trading strategies and to adjust monetary policies through controlling trader’s reactions to economic and monetary news.

Keywords: risk neutral densities, kernel, constant maturity horizons, homogeneity, asymmetry and extreme risk perception

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Authors: Georg Brunnthaller, Sandra Stein, Wilfried Sihn

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Transportation service providers are facing increasing volatility concerning future transport demand. Short-term planning horizons and planning uncertainties lead to reduced capacity utilization and increasing empty mileage. To overcome these challenges, a model is proposed to continuously pre-plan future transportation capacity in order to redesign and adjust the intermodal fleet accordingly. It is expected that the model will enable logistics service providers to organize more economically and ecologically sustainable transport chains in a more flexible way. To further describe these planning aspects, this paper gives an overview on transportation planning problems in a structured way. The focus is on strategic and tactical planning levels, comprising relevant fleet-sizing, service-network-design and choice-of-carriers-problems. Models and their developed solution techniques are presented, and the literature review is concluded with an outlook to our future research directions.

Keywords: freight transportation planning, multimodal, fleet-sizing, service network design, choice of transportation mode, review

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Authors: Qais H. Alsafasfeh

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The aim of this paper is to provide a forecast of the peak demand for the next 15 years for electrical distribution companies. The proposed methodology provides both the peak demand and its location for the next 15 years. This paper describes the Spatial Load Forecasting model used, the information provided by electrical distribution company in Jordan, the workflow followed, the parameters used and the assumptions made to run the model. The aim of this paper is to provide a forecast of the peak demand for the next 15 years for electrical distribution companies. The proposed methodology provides both the peak demand and its location for the next 15 years. This paper describes the Spatial Load Forecasting model used, the information provided by electrical distribution company in Jordan, the workflow followed, the parameters used and the assumptions made to run the model.

Keywords: load forecast, peak demand, spatial load, electrical distribution

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Authors: Nikki Berrange, Gizelle Willows

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Business rescue has become increasingly popular since its inclusion in the Companies Act of South Africa in May 2011. The Alternate Exchange (AltX) of the Johannesburg Stock Exchange has experienced a marked increase in the number of companies entering business rescue. This study sampled twenty companies listed on the AltX to determine whether Altman’s Z-score model for emerging markets (ZEM) or Taffler’s Z-score model is a more accurate model in predicting financial distress for small to medium size companies in South Africa. The study was performed over three different time horizons; one, two and three years prior to the event of financial distress, in order to determine how many companies each model predicted would be unlikely to succeed as well as the predictive ability and accuracy of the respective models. The study found that Taffler’s Z-score model had a greater ability at predicting financial distress from all three-time horizons.

Keywords: Altman’s ZEM-score, Altman’s Z-score, AltX, business rescue, Taffler’s Z-score

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Authors: Girish Chavadappanavar

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The impact of climate on agriculture could result in problems with food security and may threaten the livelihood activities upon which much of the population depends. In the present study, the development of a statistical yield forecast model has been carried out for sugarcane production over Belagavi district, Karnataka using weather variables of crop growing season and past observed yield data for the period of 1971 to 2010. The study shows that this type of statistical yield forecast model could efficiently forecast yield 5 weeks and even 10 weeks in advance of the harvest for sugarcane within an acceptable limit of error. The performance of the model in predicting yields at the district level for sugarcane crops is found quite satisfactory for both validation (2007 and 2008) as well as forecasting (2009 and 2010).In addition to the above study, the climate variability of the area has also been studied, and hence, the data series was tested for Mann Kendall Rank Statistical Test. The maximum and minimum temperatures were found to be significant with opposite trends (decreasing trend in maximum and increasing in minimum temperature), while the other three are found in significant with different trends (rainfall and evening time relative humidity with increasing trend and morning time relative humidity with decreasing trend).

Keywords: climate impact, regression analysis, yield and forecast model, sugar models

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Authors: Yiseyon Hosu, Joseph Akande

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Wheat is one of the most important staple food grains of human for centuries and is largely consumed in South Africa. It has a special place in the South African economy because of its significance in food security, trade, and industry. This paper modelled and forecast the production and consumption of wheat in South Africa in the time covid-19 and the ongoing Russia-Ukraine war by using annual time series data from 1940–2021 based on the ARIMA models. Both the averaging forecast and selected models forecast indicate that there is the possibility of an increase with respect to production. The minimum and maximum growth in production is projected to be between 3million and 10 million tons, respectively. However, the model also forecast a possibility of depression with respect to consumption in South Africa. Although Covid-19 and the war between Ukraine and Russia, two major producers and exporters of global wheat, are having an effect on the volatility of the prices currently, the wheat production in South African is expected to increase and meat the consumption demand and provided an opportunity for increase export with respect to domestic consumption. The forecasting of production and consumption behaviours of major crops play an important role towards food and nutrition security, these findings can assist policymakers and will provide them with insights into the production and pricing policy of wheat in South Africa.

Keywords: ARIMA, food security, price volatility, staple food, South Africa

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Authors: Jie Ji, Jing Xu, Yuehong Zhuang, Xiangqing Kang, Ying Qian, Ping Zhou, Di Xue

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Background: In 2014, there were 28,341 health professionals in Pudong new area of Shanghai and the number per 1000 population was 5.199, 55.55% higher than that in 2006. But it was always less than the average number of health professionals per 1000 population in Shanghai from 2006 to 2014. Therefore, allocation planning for the health professionals in Pudong new area has become a high priority task in order to meet the future demands of health care. In this study, we constructed an objective-based system dynamics model to forecast the number of health professionals in Pudong new area of Shanghai in 2020. Methods: We collected the data from health statistics reports and previous survey of human resources in Pudong new area of Shanghai. Nine experts, who were from health administrative departments, public hospitals and community health service centers, were consulted to estimate the current and future status of nine variables used in the system dynamics model. Based on the objective of the number of health professionals per 1000 population (8.0) in Shanghai for 2020, the system dynamics model for health professionals in Pudong new area of Shanghai was constructed to forecast the number of health professionals needed in Pudong new area in 2020. Results: The system dynamics model for health professionals in Pudong new area of Shanghai was constructed. The model forecasted that there will be 37,330 health professionals (6.433 per 1000 population) in 2020. If the success rate of health professional recruitment changed from 20% to 70%, the number of health professionals per 1000 population would be changed from 5.269 to 6.919. If this rate changed from 20% to 70% and the success rate of building new beds changed from 5% to 30% at the same time, the number of health professionals per 1000 population would be changed from 5.269 to 6.923. Conclusions: The system dynamics model could be used to simulate and forecast the health professionals. But, if there were no significant changes in health policies and management system, the number of health professionals per 1000 population would not reach the objectives in Pudong new area in 2020.

Keywords: allocation planning, forecast, health professional, system dynamics

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Authors: Givi Gavardashvili, Eduard Kukhalashvili, Tamriko Supatashvili, Giorgi Natroshvili, Konstantine Bziava, Irma Qufarashvili

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In the article to research water levels in the Zhinvali water reservoirs by field and theoretical research and using GPS and GIS technologies has been established dynamic of water reservoirs changes in the suitable coordinates and has been made water reservoir maps and is lined in the 3D format. By using of GPS coordinates and digital maps has been established water horizons of Zhinvali water reservoir in the absolute marks and has been calculated water levels volume. To forecast the filling of the Zhinvali water reservoir by solid sediment in 2018 conducted field experimental researches in the catchment basin of river Tetri (White) Aragvi. It has been established main hydrological and hydraulic parameters of the active erosion-debris flow tributaries of river Tetri Aragvi. It has been calculated erosion coefficient considering the degradation of the slope. By calculation is determined, that in the river Tetri Aragvi catchment basin the value of 1% maximum discharge changes Q1% = 70,0 – 550,0 m3/sec, and erosion coefficient - E = 0,73 - 1,62, with suitable fifth class of erosion and intensity 50-100 tone/hectare in the year.

Keywords: Zhinvali soil dam, water reservoirs, water levels, erosion, debris flow

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Authors: Fuchun Li, Hong Xiao

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We propose a new early warning model for predicting financial stress events for a given future time. In this model, we examine whether credit conditions play an important role as a nonlinear propagator of shocks when predicting the likelihood of occurrence of financial stress events for a given future time. This propagation takes the form of a threshold regression in which a regime change occurs if credit conditions cross a critical threshold. Given the new early warning model for financial stress events, we evaluate the performance of this model and currently available alternatives, such as the model from signal extraction approach, and linear regression model. In-sample forecasting results indicate that the three types of models are useful tools for predicting financial stress events while none of them outperforms others across all criteria considered. The out-of-sample forecasting results suggest that the credit-regime switching model performs better than the two others across all criteria and all forecasting horizons considered.

Keywords: cut-off probability, early warning model, financial crisis, financial stress, regime-switching model, forecasting horizons

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Authors: Dmytro Zubov, Francesco Volponi

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In this paper, D-Wave quantum computing Ising model is used for the forecasting of positive extremes of daily mean air temperature. Forecast models are designed with two to five qubits, which represent 2-, 3-, 4-, and 5-day historical data respectively. Ising model’s real-valued weights and dimensionless coefficients are calculated using daily mean air temperatures from 119 places around the world, as well as sea level (Aburatsu, Japan). In comparison with current methods, this approach is better suited to predict heat wave values because it does not require the estimation of a probability distribution from scarce observations. Proposed forecast quantum computing algorithm is simulated based on traditional computer architecture and combinatorial optimization of Ising model parameters for the Ronald Reagan Washington National Airport dataset with 1-day lead-time on learning sample (1975-2010 yr). Analysis of the forecast accuracy (ratio of successful predictions to total number of predictions) on the validation sample (2011-2014 yr) shows that Ising model with three qubits has 100 % accuracy, which is quite significant as compared to other methods. However, number of identified heat waves is small (only one out of nineteen in this case). Other models with 2, 4, and 5 qubits have 20 %, 3.8 %, and 3.8 % accuracy respectively. Presented three-qubit forecast model is applied for prediction of heat waves at other five locations: Aurel Vlaicu, Romania – accuracy is 28.6 %; Bratislava, Slovakia – accuracy is 21.7 %; Brussels, Belgium – accuracy is 33.3 %; Sofia, Bulgaria – accuracy is 50 %; Akhisar, Turkey – accuracy is 21.4 %. These predictions are not ideal, but not zeros. They can be used independently or together with other predictions generated by different method(s). The loss of human life, as well as environmental, economic, and material damage, from extreme air temperatures could be reduced if some of heat waves are predicted. Even a small success rate implies a large socio-economic benefit.

Keywords: heat wave, D-wave, forecast, Ising model, quantum computing

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Authors: Ubaidillah Zuhdi, Shunsuke Mori, Kazuhisa Kamegai

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The purpose of this study is to forecast the influences of Information and Communication Technology (ICT) on the structural changes of Japanese economies based on Leontief Input-Output (IO) coefficients. This study establishes a statistical analysis to predict the future interrelationships among industries. We employ the Constrained Multivariate Regression (CMR) model to analyze the historical changes of input-output coefficients. Statistical significance of the model is then tested by Likelihood Ratio Test (LRT). In our model, ICT is represented by two explanatory variables, i.e. computers (including main parts and accessories) and telecommunications equipment. A previous study, which analyzed the influences of these variables on the structural changes of Japanese industrial sectors from 1985-2005, concluded that these variables had significant influences on the changes in the business circumstances of Japanese commerce, business services and office supplies, and personal services sectors. The projected future Japanese economic structure based on the above forecast generates the differentiated direct and indirect outcomes of ICT penetration.

Keywords: forecast, ICT, industrial structural changes, statistical analysis

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Authors: Mina Darabi Amin

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In 1972, Hans Robert Jauss introduced the Reception Theory a version of Reader-response criticism, that suggests the literary critics to re-examine the relationship between the author, the work and the reader. The revealing of these relationships has shown that, besides the creation, the reception and the reading of the text have different levels which exempt it from a continuous reference to the meaning intended by the artist and could lead to multiplicity of possible interpretations according to the ‘Horizon of Expectations’. This theory could be associated with another intellectual process called ‘translation’, a process that is always confronted by different levels of readers in the target language and different levels of reception by these readers. By adopting the perspective of Reception theory in translation, we could ignore a particular kind of translation and consider the initiation to a literary text, its translation and its reception as a continuous process. Just like the creation of the text, the translation and its reception, are not made once and for all; they are confronted with different levels of reception and interpretation which are made and remade endlessly. After having known and crossing the first levels, the Horizons of Expectation could be extended and the reader could be initiated to the higher levels. On the other hand, we could say that the faithful and free translation are not opposed to each other, but depending on the type of reception by the readers and in a particular moment, the existence of both is necessary. In fact, it is the level of reception in readers and their Horizon of Expectations that determine the degree of fidelity and freedom of translation.

Keywords: reception theory, reading, literary translation, horizons of expectation, reader

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Authors: Hacene Benkhoula, Mohamed Badreddine Benabdella, Hamid Bouzeboudja, Abderrahmane Asraoui

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The wind is a random variable difficult to master, for this, we developed a mathematical and statistical methods enable to modeling and forecast wind power. Gaussian Processes (GP) is one of the most widely used families of stochastic processes for modeling dependent data observed over time, or space or time and space. GP is an underlying process formed by unrecognized operator’s uses to solve a problem. The purpose of this paper is to present how to forecast wind power by using the GP. The Gaussian process method for forecasting are presented. To validate the presented approach, a simulation under the MATLAB environment has been given.

Keywords: wind power, Gaussien process, modelling, forecasting

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Authors: Qamar Iqbal

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Companies strive to improve their forecasting methods to predict the fluctuations in customer demand. These fluctuation and variation in demand affect the manufacturing operations and can limit a company’s ability to fulfill customer demand on time. Companies keep the inventory buffer and maintain the stocking levels to reduce the impact of demand variation. A mid-size company deals with thousands of stock keeping units (skus). It is neither easy and nor efficient to control and manage each sku. Inventory classification provides a tool to the management to increase their ability to support customer demand. The paper presents a framework that shows how inventory classification can play a role to increase supply chain responsiveness. A case study will be presented to further elaborate the method both for build-to-order and build-to-forecast manufacturing environments. Results will be compared that will show which manufacturing setting has advantage over another under different circumstances. The outcome of this study is very useful to the management because this will give them an insight on how inventory classification can be used to increase their ability to respond to changing customer needs.

Keywords: inventory classification, supply chain responsiveness, forecast, manufacturing environment

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Authors: Md. Abud Darda

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Different options for natural gas production in wide geographic areas may be described through diffusion of innovation models. This type of modeling approach provides an indirect estimate of an ultimately recoverable resource, URR, capture the quantitative effects of observed strategic interventions, and allow ex-ante assessments of future scenarios over time. In order to ensure a sustainable energy policy, it is important to forecast the availability of this natural resource. Considering a finite life cycle, in this paper we try to investigate the natural gas production of Myanmar and Algeria, two important natural gas provider in the world energy market. A number of homogeneous and heterogeneous diffusion models, with convenient extensions, have been used. Models validation has also been performed in terms of prediction capability.

Keywords: diffusion models, energy forecast, natural gas, nonlinear production

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Authors: Mariyam Arif, Ye Liu, Israr Ul Haq, Ahsan Ashfaq

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High cost of fossil fuels and intensifying installations of alternate energy generation sources are intimidating main challenges in power systems. Making accurate load forecasting an important and challenging task for optimal energy planning and management at both distribution and generation side. There are many techniques to forecast load but each technique comes with its own limitation and requires data to accurately predict the forecast load. Artificial Neural Network (ANN) is one such technique to efficiently forecast the load. Comparison between two different ranges of input datasets has been applied to dynamic ANN technique using MATLAB Neural Network Toolbox. It has been observed that selection of input data on training of a network has significant effects on forecasted results. Day-wise input data forecasted the load accurately as compared to year-wise input data. The forecasted load is then distributed among the six generators by using the linear programming to get the optimal point of generation. The algorithm is then verified by comparing the results of each generator with their respective generation limits.

Keywords: artificial neural networks, demand-side management, economic dispatch, linear programming, power generation dispatch

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Authors: Syazreen N. Shair, Saiful A. Ishak, Aida Y. Yusof, Azizah Murad

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In this paper, we forecast age-specific Malaysian mortality rates and life expectancy at births by gender and ethnic groups including Malay, Chinese and Indian. Two mortality forecasting models are adopted the original Lee-Carter model and its recent modified version, the product ratio coherent model. While the first forecasts the mortality rates for each subpopulation independently, the latter accounts for the relationship between sub-populations. The evaluation of both models is performed using the out-of-sample forecast errors which are mean absolute percentage errors (MAPE) for mortality rates and mean forecast errors (MFE) for life expectancy at births. The best model is then used to perform the long-term forecasts up to the year 2030, the year when Malaysia is expected to become an aged nation. Results suggest that in terms of overall accuracy, the product ratio model performs better than the original Lee-Carter model. The association of lower mortality group (Chinese) in the subpopulation model can improve the forecasts of high mortality groups (Malay and Indian).

Keywords: coherent forecasts, life expectancy at births, Lee-Carter model, product-ratio model, mortality rates

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Authors: Nop Sopipan

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In this paper, we forecast the volatility of Baht/USDs using Markov Regime Switching GARCH (MRS-GARCH) models. These models allow volatility to have different dynamics according to unobserved regime variables. The main purpose of this paper is to find out whether MRS-GARCH models are an improvement on the GARCH type models in terms of modeling and forecasting Baht/USD volatility. The MRS-GARCH is the best performance model for Baht/USD volatility in short term but the GARCH model is best perform for long term.

Keywords: volatility, Markov Regime Switching, forecasting, Baht/USD

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Authors: M. Mulumpwa, W. W. L. Jere, M. Lazaro, A. H. N. Mtethiwa

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The study considered Seasonal Autoregressive Integrated Moving Average (SARIMA) processes to select an appropriate stochastic model to forecast the monthly data from the Lake Malawi water levels for the period 1986 through 2015. The appropriate model was chosen based on SARIMA (p, d, q) (P, D, Q)S. The Autocorrelation function (ACF), Partial autocorrelation (PACF), Akaike Information Criteria (AIC), Bayesian Information Criterion (BIC), Box–Ljung statistics, correlogram and distribution of residual errors were estimated. The SARIMA (1, 1, 0) (1, 1, 1)12 was selected to forecast the monthly data of the Lake Malawi water levels from August, 2015 to December, 2021. The plotted time series showed that the Lake Malawi water levels are decreasing since 2010 to date but not as much as was the case in 1995 through 1997. The future forecast of the Lake Malawi water levels until 2021 showed a mean of 474.47 m ranging from 473.93 to 475.02 meters with a confidence interval of 80% and 90% against registered mean of 473.398 m in 1997 and 475.475 m in 1989 which was the lowest and highest water levels in the lake respectively since 1986. The forecast also showed that the water levels of Lake Malawi will drop by 0.57 meters as compared to the mean water levels recorded in the previous years. These results suggest that the Lake Malawi water level may not likely go lower than that recorded in 1997. Therefore, utilisation and management of water-related activities and programs among others on the lake should provide room for such scenarios. The findings suggest a need to manage the Lake Malawi jointly and prudently with other stakeholders starting from the catchment area. This will reduce impacts of anthropogenic activities on the lake’s water quality, water level, aquatic and adjacent terrestrial ecosystems thereby ensuring its resilience to climate change impacts.

Keywords: forecasting, Lake Malawi, water levels, water level fluctuation, climate change, anthropogenic activities

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Authors: Korpapa Srisamai, Pawee Siriruk

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The purpose of this study is to forecast product demands and develop appropriate and adequate procurement plans to meet customer needs and reduce costs. When the product exceeds customer demands or does not move, it requires the company to support insufficient storage spaces. Moreover, some items, when stored for a long period of time, cause deterioration to dead stock. A case study of the wholesale company of electronic equipment and components, which has uncertain customer demands, is considered. The actual purchasing orders of customers are not equal to the forecast provided by the customers. In some cases, customers have higher product demands, resulting in the product being insufficient to meet the customer's needs. However, some customers have lower demands for products than estimates, causing insufficient storage spaces and dead stock. This study aims to reduce the loss of sales opportunities and the number of remaining goods in the warehouse, citing 30 product samples of the company's most popular products. The data were collected during the duration of the study from January to October 2022. The methods used to forecast are simple moving averages, weighted moving average, and exponential smoothing methods. The economic ordering quantity and reorder point are used to calculate to meet customer needs and track results. The research results are very beneficial to the company. The company can reduce the loss of sales opportunities by 20% so that the company has enough products to meet customer needs and can reduce unused products by up to 10% dead stock. This enables the company to order products more accurately, increasing profits and storage space.

Keywords: demand forecast, reorder point, lost sale, dead stock

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Authors: Martins Y. Otache, John J. Musa, Abayomi I. Kuti, Mustapha Mohammed

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The performance of an artificial neural network (ANN) is contingent on a host of factors, for instance, the network optimisation scheme. In view of this, the study examined the general implications of the ANN training optimisation algorithm on its forecast performance. To this end, the Bayesian regularisation (Br), Levenberg-Marquardt (LM), and the adaptive learning gradient descent: GDM (with momentum) algorithms were employed under different ANN structural configurations: (1) single-hidden layer, and (2) double-hidden layer feedforward back propagation network. Results obtained revealed generally that the gradient descent with momentum (GDM) optimisation algorithm, with its adaptive learning capability, used a relatively shorter time in both training and validation phases as compared to the Levenberg- Marquardt (LM) and Bayesian Regularisation (Br) algorithms though learning may not be consummated; i.e., in all instances considering also the prediction of extreme flow conditions for 1-day and 5-day ahead, respectively especially using the ANN model. In specific statistical terms on the average, model performance efficiency using the coefficient of efficiency (CE) statistic were Br: 98%, 94%; LM: 98 %, 95 %, and GDM: 96 %, 96% respectively for training and validation phases. However, on the basis of relative error distribution statistics (MAE, MAPE, and MSRE), GDM performed better than the others overall. Based on the findings, it is imperative to state that the adoption of ANN for real-time forecasting should employ training algorithms that do not have computational overhead like the case of LM that requires the computation of the Hessian matrix, protracted time, and sensitivity to initial conditions; to this end, Br and other forms of the gradient descent with momentum should be adopted considering overall time expenditure and quality of the forecast as well as mitigation of network overfitting. On the whole, it is recommended that evaluation should consider implications of (i) data quality and quantity and (ii) transfer functions on the overall network forecast performance.

Keywords: streamflow, neural network, optimisation, algorithm

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Authors: Serkan Aras, Emrah Gulay

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Combining various forecasting models is an important tool for researchers to attain more accurate forecasts. A great number of papers have shown that selecting single models as dissimilar models, or methods based on different information as possible leads to better forecasting performances. However, there is not a certain rule regarding the number of single models to be used in any combining methods. This study focuses on determining the optimal or near optimal number for single models with the help of statistical tests. An extensive experiment is carried out by utilizing some well-known time series data sets from diverse fields. Furthermore, many rival forecasting methods and some of the commonly used combining methods are employed. The obtained results indicate that some statistically significant performance differences can be found regarding the number of the single models in the combining methods under investigation.

Keywords: combined forecast, forecasting, M-competition, time series

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Authors: Etienne Alain Feukeu, L. W. Snyman

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Water scarcity is becoming a real issue nowadays. Most countries in the world are facing it in their own way based on their own geographical coordinate and condition. Many countries are facing a challenge of a growing water demand as a result of not only an increased population, economic growth, but also as a pressure of the population dynamic and urbanization. In view to mitigate some of this related problem, an accurate method of water estimation and future prediction, forecast is essential to guarantee not only the sufficient quantity, but also a good water distribution and management system. Beside the fact that several works have been undertaken to address this concern, there is still a considerable disparity between different methods and standard used for water prediction and estimation. Hence this work contrast and compare two well-defined and established methods from two countries (USA and South Africa) to demonstrate the inconsistency when different method and standards are used interchangeably.

Keywords: water scarcity, water estimation, water prediction, water forecast.

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Authors: B. F. Dada, B. S. Ewulo, M. A. Awodun, S. O. Ajayi

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Aggregate soil carbon distribution and stock in the soil in the form of a carbon pool is important for soil fertility and sequestration. The amount of carbon pool and other nutrients statues of the soil are to benefit plants, animal and the environment in the long run. This study was carried out at Akure North and South Local Government; the study area is one of the 18 Local Government Areas of Ondo State in the Southwest geo-political zone of Nigeria. The sites were divided into Map Grids and geo-referenced with Global Positioning System (GPS). Horizons were designated and morphological description carried out on the field. Pedons were characterized and classified according to USDA soil taxonomy. The local government area shares boundaries with; Ikere Local Government (LG) in the North, Ise Orun LG in the northwest, Ifedore LG in the northeast Akure South LG in the East, Ose LG in the South East, and Owo LG in the South. SOC-pool at Federal College of Agriculture topsoil horizon A2 is significantly higher than all horizons, 67.83 th⁻¹. The chemical properties of the pedons have shown that the soil is very strongly acidic to neutral reaction (4.68 – 6.73). The nutrients status of the soil topsoil A1 and A2 generally indicates that the soils have a low potential for retaining plant nutrients, and therefore call for adequate soil management.

Keywords: soil organic carbon (SOC), horizon, pedon, Akure

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Authors: Rutuja Desai

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Search engine is fundamentally a framework used to search the data which is pertinent to the client via WWW. Looking close-by spot identified with the keywords is an imperative concept in developing web advances. For such kind of searching, extent pursuit or closest neighbor is utilized. In range search the forecast is made whether the objects meet to query object. Nearest neighbor is the forecast of the focuses close to the query set by the client. Here, the nearest neighbor methodology is utilized where Data recovery R+ tree is utilized rather than IR2 tree. The disadvantages of IR2 tree is: The false hit number can surpass the limit and the mark in Information Retrieval R-tree must have Voice over IP bit for each one of a kind word in W set is recouped by Data recovery R+ tree. The inquiry is fundamentally subordinate upon the key words and the geometric directions.

Keywords: information retrieval, nearest neighbor search, keyword search, R+ tree

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Authors: Hans Schumann, Colin Domnauer, Louis Rosenberg

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In this study, machine learning techniques were deployed on real-time human swarm data to forecast the likelihood of outcomes for English Premier League matches in the 2020/21 season. These techniques included ensemble models in combination with neural networks and were tested against an industry standard of Vegas Oddsmakers. Predictions made from the collective intelligence of human swarm participants managed to achieve a positive return on investment over a full season on matches, empirically proving the usefulness of a new artificial intelligence valuing human instinct and intelligence.

Keywords: artificial intelligence, data science, English Premier League, human swarming, machine learning, sports betting, swarm intelligence

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Authors: Ulrike Dowie, Ralph Grothmann

Abstract:

Rational planning decisions are based upon forecasts. Precise forecasting has, therefore, a central role in business. The prediction of customer demand is a prime example. This paper introduces recurrent neural networks to model customer demand and combines the forecast with uncertainty measures to derive decision support of the demand planning department. It identifies and describes the keys to the successful implementation of an AI-based solution: bringing together data with business knowledge, AI methods, and user experience, and applying agile software development practices.

Keywords: agile software development, AI project success factors, deep learning, demand forecasting, forecast uncertainty, neural networks, supply chain management

Procedia PDF Downloads 188