Search results for: forecasting accuracy
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 4133

Search results for: forecasting accuracy

4043 EarlyWarning for Financial Stress Events:A Credit-Regime Switching Approach

Authors: Fuchun Li, Hong Xiao

Abstract:

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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4042 Input Data Balancing in a Neural Network PM-10 Forecasting System

Authors: Suk-Hyun Yu, Heeyong Kwon

Abstract:

Recently PM-10 has become a social and global issue. It is one of major air pollutants which affect human health. Therefore, it needs to be forecasted rapidly and precisely. However, PM-10 comes from various emission sources, and its level of concentration is largely dependent on meteorological and geographical factors of local and global region, so the forecasting of PM-10 concentration is very difficult. Neural network model can be used in the case. But, there are few cases of high concentration PM-10. It makes the learning of the neural network model difficult. In this paper, we suggest a simple input balancing method when the data distribution is uneven. It is based on the probability of appearance of the data. Experimental results show that the input balancing makes the neural networks’ learning easy and improves the forecasting rates.

Keywords: artificial intelligence, air quality prediction, neural networks, pattern recognition, PM-10

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4041 Application of Support Vector Machines in Forecasting Non-Residential

Authors: Wiwat Kittinaraporn, Napat Harnpornchai, Sutja Boonyachut

Abstract:

This paper deals with the application of a novel neural network technique, so-called Support Vector Machine (SVM). The objective of this study is to explore the variable and parameter of forecasting factors in the construction industry to build up forecasting model for construction quantity in Thailand. The scope of the research is to study the non-residential construction quantity in Thailand. There are 44 sets of yearly data available, ranging from 1965 to 2009. The correlation between economic indicators and construction demand with the lag of one year was developed by Apichat Buakla. The selected variables are used to develop SVM models to forecast the non-residential construction quantity in Thailand. The parameters are selected by using ten-fold cross-validation method. The results are indicated in term of Mean Absolute Percentage Error (MAPE). The MAPE value for the non-residential construction quantity predicted by Epsilon-SVR in corporation with Radial Basis Function (RBF) of kernel function type is 5.90. Analysis of the experimental results show that the support vector machine modelling technique can be applied to forecast construction quantity time series which is useful for decision planning and management purpose.

Keywords: forecasting, non-residential, construction, support vector machines

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4040 Groundwater Level Prediction Using hybrid Particle Swarm Optimization-Long-Short Term Memory Model and Performance Evaluation

Authors: Sneha Thakur, Sanjeev Karmakar

Abstract:

This paper proposed hybrid Particle Swarm Optimization (PSO) – Long-Short Term Memory (LSTM) model for groundwater level prediction. The evaluation of the performance is realized using the parameters: root mean square error (RMSE) and mean absolute error (MAE). Ground water level forecasting will be very effective for planning water harvesting. Proper calculation of water level forecasting can overcome the problem of drought and flood to some extent. The objective of this work is to develop a ground water level forecasting model using deep learning technique integrated with optimization technique PSO by applying 29 years data of Chhattisgarh state, In-dia. It is important to find the precise forecasting in case of ground water level so that various water resource planning and water harvesting can be managed effectively.

Keywords: long short-term memory, particle swarm optimization, prediction, deep learning, groundwater level

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4039 Life Prediction Method of Lithium-Ion Battery Based on Grey Support Vector Machines

Authors: Xiaogang Li, Jieqiong Miao

Abstract:

As for the problem of the grey forecasting model prediction accuracy is low, an improved grey prediction model is put forward. Firstly, use trigonometric function transform the original data sequence in order to improve the smoothness of data , this model called SGM( smoothness of grey prediction model), then combine the improved grey model with support vector machine , and put forward the grey support vector machine model (SGM - SVM).Before the establishment of the model, we use trigonometric functions and accumulation generation operation preprocessing data in order to enhance the smoothness of the data and weaken the randomness of the data, then use support vector machine (SVM) to establish a prediction model for pre-processed data and select model parameters using genetic algorithms to obtain the optimum value of the global search. Finally, restore data through the "regressive generate" operation to get forecasting data. In order to prove that the SGM-SVM model is superior to other models, we select the battery life data from calce. The presented model is used to predict life of battery and the predicted result was compared with that of grey model and support vector machines.For a more intuitive comparison of the three models, this paper presents root mean square error of this three different models .The results show that the effect of grey support vector machine (SGM-SVM) to predict life is optimal, and the root mean square error is only 3.18%. Keywords: grey forecasting model, trigonometric function, support vector machine, genetic algorithms, root mean square error

Keywords: Grey prediction model, trigonometric functions, support vector machines, genetic algorithms, root mean square error

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4038 Demand Forecasting Using Artificial Neural Networks Optimized by Particle Swarm Optimization

Authors: Daham Owaid Matrood, Naqaa Hussein Raheem

Abstract:

Evolutionary algorithms and Artificial neural networks (ANN) are two relatively young research areas that were subject to a steadily growing interest during the past years. This paper examines the use of Particle Swarm Optimization (PSO) to train a multi-layer feed forward neural network for demand forecasting. We use in this paper weekly demand data for packed cement and towels, which have been outfitted by the Northern General Company for Cement and General Company of prepared clothes respectively. The results showed superiority of trained neural networks using particle swarm optimization on neural networks trained using error back propagation because their ability to escape from local optima.

Keywords: artificial neural network, demand forecasting, particle swarm optimization, weight optimization

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4037 Development of pm2.5 Forecasting System in Seoul, South Korea Using Chemical Transport Modeling and ConvLSTM-DNN

Authors: Ji-Seok Koo, Hee‑Yong Kwon, Hui-Young Yun, Kyung-Hui Wang, Youn-Seo Koo

Abstract:

This paper presents a forecasting system for PM2.5 levels in Seoul, South Korea, leveraging a combination of chemical transport modeling and ConvLSTM-DNN machine learning technology. Exposure to PM2.5 has known detrimental impacts on public health, making its prediction crucial for establishing preventive measures. Existing forecasting models, like the Community Multiscale Air Quality (CMAQ) and Weather Research and Forecasting (WRF), are hindered by their reliance on uncertain input data, such as anthropogenic emissions and meteorological patterns, as well as certain intrinsic model limitations. The system we've developed specifically addresses these issues by integrating machine learning and using carefully selected input features that account for local and distant sources of PM2.5. In South Korea, the PM2.5 concentration is greatly influenced by both local emissions and long-range transport from China, and our model effectively captures these spatial and temporal dynamics. Our PM2.5 prediction system combines the strengths of advanced hybrid machine learning algorithms, convLSTM and DNN, to improve upon the limitations of the traditional CMAQ model. Data used in the system include forecasted information from CMAQ and WRF models, along with actual PM2.5 concentration and weather variable data from monitoring stations in China and South Korea. The system was implemented specifically for Seoul's PM2.5 forecasting.

Keywords: PM2.5 forecast, machine learning, convLSTM, DNN

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4036 A Smart Contract Project: Peer-to-Peer Energy Trading with Price Forecasting in Microgrid

Authors: Şakir Bingöl, Abdullah Emre Aydemir, Abdullah Saado, Ahmet Akıl, Elif Canbaz, Feyza Nur Bulgurcu, Gizem Uzun, Günsu Bilge Dal, Muhammedcan Pirinççi

Abstract:

Smart contracts, which can be applied in many different areas, from financial applications to the internet of things, come to the fore with their security, low cost, and self-executing features. In this paper, it is focused on peer-to-peer (P2P) energy trading and the implementation of the smart contract on the Ethereum blockchain. It is assumed a microgrid consists of consumers and prosumers that can produce solar and wind energy. The proposed architecture is a system where the prosumer makes the purchase or sale request in the smart contract and the maximum price obtained through the distribution system operator (DSO) by forecasting. It is aimed to forecast the hourly maximum unit price of energy by using deep learning instead of a fixed pricing. In this way, it will make the system more reliable as there will be more dynamic and accurate pricing. For this purpose, Istanbul's energy generation, energy consumption and market clearing price data were used. The consistency of the available data and forecasting results is observed and discussed with graphs.

Keywords: energy trading smart contract, deep learning, microgrid, forecasting, Ethereum, peer to peer

Procedia PDF Downloads 138
4035 Benchmarking Machine Learning Approaches for Forecasting Hotel Revenue

Authors: Rachel Y. Zhang, Christopher K. Anderson

Abstract:

A critical aspect of revenue management is a firm’s ability to predict demand as a function of price. Historically hotels have used simple time series models (regression and/or pick-up based models) owing to the complexities of trying to build casual models of demands. Machine learning approaches are slowly attracting attention owing to their flexibility in modeling relationships. This study provides an overview of approaches to forecasting hospitality demand – focusing on the opportunities created by machine learning approaches, including K-Nearest-Neighbors, Support vector machine, Regression Tree, and Artificial Neural Network algorithms. The out-of-sample performances of above approaches to forecasting hotel demand are illustrated by using a proprietary sample of the market level (24 properties) transactional data for Las Vegas NV. Causal predictive models can be built and evaluated owing to the availability of market level (versus firm level) data. This research also compares and contrast model accuracy of firm-level models (i.e. predictive models for hotel A only using hotel A’s data) to models using market level data (prices, review scores, location, chain scale, etc… for all hotels within the market). The prospected models will be valuable for hotel revenue prediction given the basic characters of a hotel property or can be applied in performance evaluation for an existed hotel. The findings will unveil the features that play key roles in a hotel’s revenue performance, which would have considerable potential usefulness in both revenue prediction and evaluation.

Keywords: hotel revenue, k-nearest-neighbors, machine learning, neural network, prediction model, regression tree, support vector machine

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4034 Fast Short-Term Electrical Load Forecasting under High Meteorological Variability with a Multiple Equation Time Series Approach

Authors: Charline David, Alexandre Blondin Massé, Arnaud Zinflou

Abstract:

In 2016, Clements, Hurn, and Li proposed a multiple equation time series approach for the short-term load forecasting, reporting an average mean absolute percentage error (MAPE) of 1.36% on an 11-years dataset for the Queensland region in Australia. We present an adaptation of their model to the electrical power load consumption for the whole Quebec province in Canada. More precisely, we take into account two additional meteorological variables — cloudiness and wind speed — on top of temperature, as well as the use of multiple meteorological measurements taken at different locations on the territory. We also consider other minor improvements. Our final model shows an average MAPE score of 1:79% over an 8-years dataset.

Keywords: short-term load forecasting, special days, time series, multiple equations, parallelization, clustering

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4033 Forecasting Models for Steel Demand Uncertainty Using Bayesian Methods

Authors: Watcharin Sangma, Onsiri Chanmuang, Pitsanu Tongkhow

Abstract:

A forecasting model for steel demand uncertainty in Thailand is proposed. It consists of trend, autocorrelation, and outliers in a hierarchical Bayesian frame work. The proposed model uses a cumulative Weibull distribution function, latent first-order autocorrelation, and binary selection, to account for trend, time-varying autocorrelation, and outliers, respectively. The Gibbs sampling Markov Chain Monte Carlo (MCMC) is used for parameter estimation. The proposed model is applied to steel demand index data in Thailand. The root mean square error (RMSE), mean absolute percentage error (MAPE), and mean absolute error (MAE) criteria are used for model comparison. The study reveals that the proposed model is more appropriate than the exponential smoothing method.

Keywords: forecasting model, steel demand uncertainty, hierarchical Bayesian framework, exponential smoothing method

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4032 Application of Seasonal Autoregressive Integrated Moving Average Model for Forecasting Monthly Flows in Waterval River, South Africa

Authors: Kassahun Birhanu Tadesse, Megersa Olumana Dinka

Abstract:

Reliable future river flow information is basic for planning and management of any river systems. For data scarce river system having only a river flow records like the Waterval River, a univariate time series models are appropriate for river flow forecasting. In this study, a univariate Seasonal Autoregressive Integrated Moving Average (SARIMA) model was applied for forecasting Waterval River flow using GRETL statistical software. Mean monthly river flows from 1960 to 2016 were used for modeling. Different unit root tests and Mann-Kendall trend analysis were performed to test the stationarity of the observed flow time series. The time series was differenced to remove the seasonality. Using the correlogram of seasonally differenced time series, different SARIMA models were identified, their parameters were estimated, and diagnostic check-up of model forecasts was performed using white noise and heteroscedasticity tests. Finally, based on minimum Akaike Information (AIc) and Hannan-Quinn (HQc) criteria, SARIMA (3, 0, 2) x (3, 1, 3)12 was selected as the best model for Waterval River flow forecasting. Therefore, this model can be used to generate future river information for water resources development and management in Waterval River system. SARIMA model can also be used for forecasting other similar univariate time series with seasonality characteristics.

Keywords: heteroscedasticity, stationarity test, trend analysis, validation, white noise

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4031 Forecasting Age-Specific Mortality Rates and Life Expectancy at Births for Malaysian Sub-Populations

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

Abstract:

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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4030 WEMax: Virtual Manned Assembly Line Generation

Authors: Won Kyung Ham, Kang Hoon Cho, Sang C. Park

Abstract:

Presented in this paper is a framework of a software ‘WEMax’. The WEMax is invented for analysis and simulation for manned assembly lines to sustain and improve performance of manufacturing systems. In a manufacturing system, performance, such as productivity, is a key of competitiveness for output products. However, the manned assembly lines are difficult to forecast performance, because human labors are not expectable factors by computer simulation models or mathematical models. Existing approaches to performance forecasting of the manned assembly lines are limited to matters of the human itself, such as ergonomic and workload design, and non-human-factor-relevant simulation. Consequently, an approach for the forecasting and improvement of manned assembly line performance is needed to research. As a solution of the current problem, this study proposes a framework that is for generation and simulation of virtual manned assembly lines, and the framework has been implemented as a software.

Keywords: performance forecasting, simulation, virtual manned assembly line, WEMax

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4029 Enhancing Predictive Accuracy in Pharmaceutical Sales through an Ensemble Kernel Gaussian Process Regression Approach

Authors: Shahin Mirshekari, Mohammadreza Moradi, Hossein Jafari, Mehdi Jafari, Mohammad Ensaf

Abstract:

This research employs Gaussian Process Regression (GPR) with an ensemble kernel, integrating Exponential Squared, Revised Matern, and Rational Quadratic kernels to analyze pharmaceutical sales data. Bayesian optimization was used to identify optimal kernel weights: 0.76 for Exponential Squared, 0.21 for Revised Matern, and 0.13 for Rational Quadratic. The ensemble kernel demonstrated superior performance in predictive accuracy, achieving an R² score near 1.0, and significantly lower values in MSE, MAE, and RMSE. These findings highlight the efficacy of ensemble kernels in GPR for predictive analytics in complex pharmaceutical sales datasets.

Keywords: Gaussian process regression, ensemble kernels, bayesian optimization, pharmaceutical sales analysis, time series forecasting, data analysis

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4028 Current Status and a Forecasting Model of Community Household Waste Generation: A Case Study on Ward 24 (Nirala), Khulna, Bangladesh

Authors: Md. Nazmul Haque, Mahinur Rahman

Abstract:

The objective of the research is to determine the quantity of household waste generated and forecast the future condition of Ward No 24 (Nirala). For performing that, three core issues are focused: (i) the capacity and service area of the dumping stations; (ii) the present waste generation amount per capita per day; (iii) the responsibility of the local authority in the household waste collection. This research relied on field survey-based data collection from all stakeholders and GIS-based secondary analysis of waste collection points and their coverage. However, these studies are mostly based on the inherent forecasting approaches, cannot predict the amount of waste correctly. The findings of this study suggest that Nirala is a formal residential area introducing a better approach to the waste collection - self-controlled and collection system. Here, a forecasting model proposed for waste generation as Y = -2250387 + 1146.1 * X, where X = year.

Keywords: eco-friendly environment, household waste, linear regression, waste management

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4027 Role of Macro and Technical Indicators in Equity Risk Premium Prediction: A Principal Component Analysis Approach

Authors: Naveed Ul Hassan, Bilal Aziz, Maryam Mushtaq, Imran Ameen Khan

Abstract:

Equity risk premium (ERP) is the stock return in excess of risk free return. Even though it is an essential topic of finance but still there is no common consensus upon its forecasting. For forecasting ERP, apart from the macroeconomic variables attention is devoted to technical indicators as well. For this purpose, set of 14 technical and 14 macro-economic variables is selected and all forecasts are generated based on a standard predictive regression framework, where ERP is regressed on a constant and a lag of a macroeconomic variable or technical indicator. The comparative results showed that technical indicators provide better indications about ERP estimates as compared to macro-economic variables. The relative strength of ERP predictability is also investigated by using National Bureau of Economic Research (NBER) data of business cycle expansion and recessions and found that ERP predictability is more than twice for recessions as compared to expansions.

Keywords: equity risk premium, forecasting, macroeconomic indicators, technical indicators

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4026 Fuzzy Logic Classification Approach for Exponential Data Set in Health Care System for Predication of Future Data

Authors: Manish Pandey, Gurinderjit Kaur, Meenu Talwar, Sachin Chauhan, Jagbir Gill

Abstract:

Health-care management systems are a unit of nice connection as a result of the supply a straightforward and fast management of all aspects relating to a patient, not essentially medical. What is more, there are unit additional and additional cases of pathologies during which diagnosing and treatment may be solely allotted by victimization medical imaging techniques. With associate ever-increasing prevalence, medical pictures area unit directly acquired in or regenerate into digital type, for his or her storage additionally as sequent retrieval and process. Data Mining is the process of extracting information from large data sets through using algorithms and Techniques drawn from the field of Statistics, Machine Learning and Data Base Management Systems. Forecasting may be a prediction of what's going to occur within the future, associated it's an unsure method. Owing to the uncertainty, the accuracy of a forecast is as vital because the outcome foretold by foretelling the freelance variables. A forecast management should be wont to establish if the accuracy of the forecast is within satisfactory limits. Fuzzy regression strategies have normally been wont to develop shopper preferences models that correlate the engineering characteristics with shopper preferences relating to a replacement product; the patron preference models offer a platform, wherever by product developers will decide the engineering characteristics so as to satisfy shopper preferences before developing the merchandise. Recent analysis shows that these fuzzy regression strategies area units normally will not to model client preferences. We tend to propose a Testing the strength of Exponential Regression Model over regression toward the mean Model.

Keywords: health-care management systems, fuzzy regression, data mining, forecasting, fuzzy membership function

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4025 Wind Power Forecasting Using Echo State Networks Optimized by Big Bang-Big Crunch Algorithm

Authors: Amir Hossein Hejazi, Nima Amjady

Abstract:

In recent years, due to environmental issues traditional energy sources had been replaced by renewable ones. Wind energy as the fastest growing renewable energy shares a considerable percent of energy in power electricity markets. With this fast growth of wind energy worldwide, owners and operators of wind farms, transmission system operators, and energy traders need reliable and secure forecasts of wind energy production. In this paper, a new forecasting strategy is proposed for short-term wind power prediction based on Echo State Networks (ESN). The forecast engine utilizes state-of-the-art training process including dynamical reservoir with high capability to learn complex dynamics of wind power or wind vector signals. The study becomes more interesting by incorporating prediction of wind direction into forecast strategy. The Big Bang-Big Crunch (BB-BC) evolutionary optimization algorithm is adopted for adjusting free parameters of ESN-based forecaster. The proposed method is tested by real-world hourly data to show the efficiency of the forecasting engine for prediction of both wind vector and wind power output of aggregated wind power production.

Keywords: wind power forecasting, echo state network, big bang-big crunch, evolutionary optimization algorithm

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4024 The Role of Business Survey Measures in Forecasting Croatian Industrial Production

Authors: M. Cizmesija, N. Erjavec, V. Bahovec

Abstract:

While the European Union (EU) harmonized methodology is a benchmark of worldwide used business survey (BS) methodology, the choice of variables that are components of the confidence indicators, as the leading indicators, is not strictly determined and unique. Therefore, the aim of this paper is to investigate and to quantify the relationship between all business survey variables in manufacturing industry and industrial production as a reference macroeconomic series in Croatia. The assumption is that there are variables in the business survey, that are not components of Industrial Confidence Indicator (ICI) and which can accurately (and sometimes better then ICI) predict changes in Croatian industrial production. Empirical analyses are conducted using quarterly data of BS variables in manufacturing industry and Croatian industrial production over the period from the first quarter 2005 to the first quarter 2013. Research results confirmed the assumption: three BS variables which is not components of ICI (competitive position, demand and liquidity) are the best leading indicator then ICI, in forecasting changes in Croatian industrial production instantaneously, with one, two or three quarter ahead.

Keywords: balance, business survey, confidence indicators, industrial production, forecasting

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4023 Dynamic Control Theory: A Behavioral Modeling Approach to Demand Forecasting amongst Office Workers Engaged in a Competition on Energy Shifting

Authors: Akaash Tawade, Manan Khattar, Lucas Spangher, Costas J. Spanos

Abstract:

Many grids are increasing the share of renewable energy in their generation mix, which is causing the energy generation to become less controllable. Buildings, which consume nearly 33% of all energy, are a key target for demand response: i.e., mechanisms for demand to meet supply. Understanding the behavior of office workers is a start towards developing demand response for one sector of building technology. The literature notes that dynamic computational modeling can be predictive of individual action, especially given that occupant behavior is traditionally abstracted from demand forecasting. Recent work founded on Social Cognitive Theory (SCT) has provided a promising conceptual basis for modeling behavior, personal states, and environment using control theoretic principles. Here, an adapted linear dynamical system of latent states and exogenous inputs is proposed to simulate energy demand amongst office workers engaged in a social energy shifting game. The energy shifting competition is implemented in an office in Singapore that is connected to a minigrid of buildings with a consistent 'price signal.' This signal is translated into a 'points signal' by a reinforcement learning (RL) algorithm to influence participant energy use. The dynamic model functions at the intersection of the points signals, baseline energy consumption trends, and SCT behavioral inputs to simulate future outcomes. This study endeavors to analyze how the dynamic model trains an RL agent and, subsequently, the degree of accuracy to which load deferability can be simulated. The results offer a generalizable behavioral model for energy competitions that provides the framework for further research on transfer learning for RL, and more broadly— transactive control.

Keywords: energy demand forecasting, social cognitive behavioral modeling, social game, transfer learning

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4022 A Long Short-Term Memory Based Deep Learning Model for Corporate Bond Price Predictions

Authors: Vikrant Gupta, Amrit Goswami

Abstract:

The fixed income market forms the basis of the modern financial market. All other assets in financial markets derive their value from the bond market. Owing to its over-the-counter nature, corporate bonds have relatively less data publicly available and thus is researched upon far less compared to Equities. Bond price prediction is a complex financial time series forecasting problem and is considered very crucial in the domain of finance. The bond prices are highly volatile and full of noise which makes it very difficult for traditional statistical time-series models to capture the complexity in series patterns which leads to inefficient forecasts. To overcome the inefficiencies of statistical models, various machine learning techniques were initially used in the literature for more accurate forecasting of time-series. However, simple machine learning methods such as linear regression, support vectors, random forests fail to provide efficient results when tested on highly complex sequences such as stock prices and bond prices. hence to capture these intricate sequence patterns, various deep learning-based methodologies have been discussed in the literature. In this study, a recurrent neural network-based deep learning model using long short term networks for prediction of corporate bond prices has been discussed. Long Short Term networks (LSTM) have been widely used in the literature for various sequence learning tasks in various domains such as machine translation, speech recognition, etc. In recent years, various studies have discussed the effectiveness of LSTMs in forecasting complex time-series sequences and have shown promising results when compared to other methodologies. LSTMs are a special kind of recurrent neural networks which are capable of learning long term dependencies due to its memory function which traditional neural networks fail to capture. In this study, a simple LSTM, Stacked LSTM and a Masked LSTM based model has been discussed with respect to varying input sequences (three days, seven days and 14 days). In order to facilitate faster learning and to gradually decompose the complexity of bond price sequence, an Empirical Mode Decomposition (EMD) has been used, which has resulted in accuracy improvement of the standalone LSTM model. With a variety of Technical Indicators and EMD decomposed time series, Masked LSTM outperformed the other two counterparts in terms of prediction accuracy. To benchmark the proposed model, the results have been compared with traditional time series models (ARIMA), shallow neural networks and above discussed three different LSTM models. In summary, our results show that the use of LSTM models provide more accurate results and should be explored more within the asset management industry.

Keywords: bond prices, long short-term memory, time series forecasting, empirical mode decomposition

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4021 Propagation of DEM Varying Accuracy into Terrain-Based Analysis

Authors: Wassim Katerji, Mercedes Farjas, Carmen Morillo

Abstract:

Terrain-Based Analysis results in derived products from an input DEM and these products are needed to perform various analyses. To efficiently use these products in decision-making, their accuracies must be estimated systematically. This paper proposes a procedure to assess the accuracy of these derived products, by calculating the accuracy of the slope dataset and its significance, taking as an input the accuracy of the DEM. Based on the output of previously published research on modeling the relative accuracy of a DEM, specifically ASTER and SRTM DEMs with Lebanon coverage as the area of study, analysis have showed that ASTER has a low significance in the majority of the area where only 2% of the modeled terrain has 50% or more significance. On the other hand, SRTM showed a better significance, where 37% of the modeled terrain has 50% or more significance. Statistical analysis deduced that the accuracy of the slope dataset, calculated on a cell-by-cell basis, is highly correlated to the accuracy of the input DEM. However, this correlation becomes lower between the slope accuracy and the slope significance, whereas it becomes much higher between the modeled slope and the slope significance.

Keywords: terrain-based analysis, slope, accuracy assessment, Digital Elevation Model (DEM)

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4020 A Comparative Asessment of Some Algorithms for Modeling and Forecasting Horizontal Displacement of Ialy Dam, Vietnam

Authors: Kien-Trinh Thi Bui, Cuong Manh Nguyen

Abstract:

In order to simulate and reproduce the operational characteristics of a dam visually, it is necessary to capture the displacement at different measurement points and analyze the observed movement data promptly to forecast the dam safety. The accuracy of forecasts is further improved by applying machine learning methods to data analysis progress. In this study, the horizontal displacement monitoring data of the Ialy hydroelectric dam was applied to machine learning algorithms: Gaussian processes, multi-layer perceptron neural networks, and the M5-rules algorithm for modelling and forecasting of horizontal displacement of the Ialy hydropower dam (Vietnam), respectively, for analysing. The database which used in this research was built by collecting time series of data from 2006 to 2021 and divided into two parts: training dataset and validating dataset. The final results show all three algorithms have high performance for both training and model validation, but the MLPs is the best model. The usability of them are further investigated by comparison with a benchmark models created by multi-linear regression. The result show the performance which obtained from all the GP model, the MLPs model and the M5-Rules model are much better, therefore these three models should be used to analyze and predict the horizontal displacement of the dam.

Keywords: Gaussian processes, horizontal displacement, hydropower dam, Ialy dam, M5-Rules, multi-layer perception neural networks

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4019 Understanding the Classification of Rain Microstructure and Estimation of Z-R Relationship using a Micro Rain Radar in Tropical Region

Authors: Tomiwa, Akinyemi Clement

Abstract:

Tropical regions experience diverse and complex precipitation patterns, posing significant challenges for accurate rainfall estimation and forecasting. This study addresses the problem of effectively classifying tropical rain types and refining the Z-R (Reflectivity-Rain Rate) relationship to enhance rainfall estimation accuracy. Through a combination of remote sensing, meteorological analysis, and machine learning, the research aims to develop an advanced classification framework capable of distinguishing between different types of tropical rain based on their unique characteristics. This involves utilizing high-resolution satellite imagery, radar data, and atmospheric parameters to categorize precipitation events into distinct classes, providing a comprehensive understanding of tropical rain systems. Additionally, the study seeks to improve the Z-R relationship, a crucial aspect of rainfall estimation. One year of rainfall data was analyzed using a Micro Rain Radar (MRR) located at The Federal University of Technology Akure, Nigeria, measuring rainfall parameters from ground level to a height of 4.8 km with a vertical resolution of 0.16 km. Rain rates were classified into low (stratiform) and high (convective) based on various microstructural attributes such as rain rates, liquid water content, Drop Size Distribution (DSD), average fall speed of the drops, and radar reflectivity. By integrating diverse datasets and employing advanced statistical techniques, the study aims to enhance the precision of Z-R models, offering a more reliable means of estimating rainfall rates from radar reflectivity data. This refined Z-R relationship holds significant potential for improving our understanding of tropical rain systems and enhancing forecasting accuracy in regions prone to heavy precipitation.

Keywords: remote sensing, precipitation, drop size distribution, micro rain radar

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4018 Development of a Wind Resource Assessment Framework Using Weather Research and Forecasting (WRF) Model, Python Scripting and Geographic Information Systems

Authors: Jerome T. Tolentino, Ma. Victoria Rejuso, Jara Kaye Villanueva, Loureal Camille Inocencio, Ma. Rosario Concepcion O. Ang

Abstract:

Wind energy is rapidly emerging as the primary source of electricity in the Philippines, although developing an accurate wind resource model is difficult. In this study, Weather Research and Forecasting (WRF) Model, an open source mesoscale Numerical Weather Prediction (NWP) model, was used to produce a 1-year atmospheric simulation with 4 km resolution on the Ilocos Region of the Philippines. The WRF output (netCDF) extracts the annual mean wind speed data using a Python-based Graphical User Interface. Lastly, wind resource assessment was produced using a GIS software. Results of the study showed that it is more flexible to use Python scripts than using other post-processing tools in dealing with netCDF files. Using WRF Model, Python, and Geographic Information Systems, a reliable wind resource map is produced.

Keywords: wind resource assessment, weather research and forecasting (WRF) model, python, GIS software

Procedia PDF Downloads 442
4017 Combining Multiscale Patterns of Weather and Sea States into a Machine Learning Classifier for Mid-Term Prediction of Extreme Rainfall in North-Western Mediterranean Sea

Authors: Pinel Sebastien, Bourrin François, De Madron Du Rieu Xavier, Ludwig Wolfgang, Arnau Pedro

Abstract:

Heavy precipitation constitutes a major meteorological threat in the western Mediterranean. Research has investigated the relationship between the states of the Mediterranean Sea and the atmosphere with the precipitation for short temporal windows. However, at a larger temporal scale, the precursor signals of heavy rainfall in the sea and atmosphere have drawn little attention. Moreover, despite ongoing improvements in numerical weather prediction, the medium-term forecasting of rainfall events remains a difficult task. Here, we aim to investigate the influence of early-spring environmental parameters on the following autumnal heavy precipitations. Hence, we develop a machine learning model to predict extreme autumnal rainfall with a 6-month lead time over the Spanish Catalan coastal area, based on i) the sea pattern (main current-LPC and Sea Surface Temperature-SST) at the mesoscale scale, ii) 4 European weather teleconnection patterns (NAO, WeMo, SCAND, MO) at synoptic scale, and iii) the hydrological regime of the main local river (Rhône River). The accuracy of the developed model classifier is evaluated via statistical analysis based on classification accuracy, logarithmic and confusion matrix by comparing with rainfall estimates from rain gauges and satellite observations (CHIRPS-2.0). Sensitivity tests are carried out by changing the model configuration, such as sea SST, sea LPC, river regime, and synoptic atmosphere configuration. The sensitivity analysis suggests a negligible influence from the hydrological regime, unlike SST, LPC, and specific teleconnection weather patterns. At last, this study illustrates how public datasets can be integrated into a machine learning model for heavy rainfall prediction and can interest local policies for management purposes.

Keywords: extreme hazards, sensitivity analysis, heavy rainfall, machine learning, sea-atmosphere modeling, precipitation forecasting

Procedia PDF Downloads 136
4016 A Time Delay Neural Network for Prediction of Human Behavior

Authors: A. Hakimiyan, H. Namazi

Abstract:

Human behavior is defined as a range of behaviors exhibited by humans who are influenced by different internal or external sources. Human behavior is the subject of much research in different areas of psychology and neuroscience. Despite some advances in studies related to forecasting of human behavior, there are not many researches which consider the effect of the time delay between the presence of stimulus and the related human response. Analysis of EEG signal as a fractal time series is one of the major tools for studying the human behavior. In the other words, the human brain activity is reflected in his EEG signal. Artificial Neural Network has been proved useful in forecasting of different systems’ behavior especially in engineering areas. In this research, a time delay neural network is trained and tested in order to forecast the human EEG signal and subsequently human behavior. This neural network, by introducing a time delay, takes care of the lagging time between the occurrence of the stimulus and the rise of the subsequent action potential. The results of this study are useful not only for the fundamental understanding of human behavior forecasting, but shall be very useful in different areas of brain research such as seizure prediction.

Keywords: human behavior, EEG signal, time delay neural network, prediction, lagging time

Procedia PDF Downloads 663
4015 Day Ahead and Intraday Electricity Demand Forecasting in Himachal Region using Machine Learning

Authors: Milan Joshi, Harsh Agrawal, Pallaw Mishra, Sanand Sule

Abstract:

Predicting electricity usage is a crucial aspect of organizing and controlling sustainable energy systems. The task of forecasting electricity load is intricate and requires a lot of effort due to the combined impact of social, economic, technical, environmental, and cultural factors on power consumption in communities. As a result, it is important to create strong models that can handle the significant non-linear and complex nature of the task. The objective of this study is to create and compare three machine learning techniques for predicting electricity load for both the day ahead and intraday, taking into account various factors such as meteorological data and social events including holidays and festivals. The proposed methods include a LightGBM, FBProphet, combination of FBProphet and LightGBM for day ahead and Motifs( Stumpy) based on Mueens algorithm for similarity search for intraday. We utilize these techniques to predict electricity usage during normal days and social events in the Himachal Region. We then assess their performance by measuring the MSE, RMSE, and MAPE values. The outcomes demonstrate that the combination of FBProphet and LightGBM method is the most accurate for day ahead and Motifs for intraday forecasting of electricity usage, surpassing other models in terms of MAPE, RMSE, and MSE. Moreover, the FBProphet - LightGBM approach proves to be highly effective in forecasting electricity load during social events, exhibiting precise day ahead predictions. In summary, our proposed electricity forecasting techniques display excellent performance in predicting electricity usage during normal days and special events in the Himachal Region.

Keywords: feature engineering, FBProphet, LightGBM, MASS, Motifs, MAPE

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4014 Automated Machine Learning Algorithm Using Recurrent Neural Network to Perform Long-Term Time Series Forecasting

Authors: Ying Su, Morgan C. Wang

Abstract:

Long-term time series forecasting is an important research area for automated machine learning (AutoML). Currently, forecasting based on either machine learning or statistical learning is usually built by experts, and it requires significant manual effort, from model construction, feature engineering, and hyper-parameter tuning to the construction of the time series model. Automation is not possible since there are too many human interventions. To overcome these limitations, this article proposed to use recurrent neural networks (RNN) through the memory state of RNN to perform long-term time series prediction. We have shown that this proposed approach is better than the traditional Autoregressive Integrated Moving Average (ARIMA). In addition, we also found it is better than other network systems, including Fully Connected Neural Networks (FNN), Convolutional Neural Networks (CNN), and Nonpooling Convolutional Neural Networks (NPCNN).

Keywords: automated machines learning, autoregressive integrated moving average, neural networks, time series analysis

Procedia PDF Downloads 105