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An Efficient Time Series Forecasting Method Exploiting Fuzziness and Turbulences in Data

An Efficient Time Series Forecasting Method Exploiting Fuzziness and Turbulences in Data
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Author(s): Prateek Pandey (Jaypee University of Engineering and Technology, India), Shishir Kumar (Jaypee University of Engineering and Technology, India)and Sandeep Shrivastava (Jaypee University of Engineering and Technology, India)
Copyright: 2018
Pages: 19
Source title: Intelligent Systems: Concepts, Methodologies, Tools, and Applications
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-5225-5643-5.ch078

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Abstract

In recent years, there has been a growing interest in Time Series forecasting. A number of time series forecasting methods have been proposed by various researchers. However, a common trend found in these methods is that they all underperform on a data set that exhibit uneven ups and downs (turbulences). In this paper, a new method based on fuzzy time-series (henceforth FTS) to forecast on the fundament of turbulences in the data set is proposed. The results show that the turbulence based fuzzy time series forecasting is effective, especially, when the available data indicate a high degree of instability. A few benchmark FTS methods are identified from the literature, their limitations and gaps are discussed and it is observed that the proposed method successfully overcome their deficiencies to produce better results. In order to validate the proposed model, a performance comparison with various conventional time series models is also presented.

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