Partitions based computational method for high-order fuzzy time series forecasting

  • Authors:
  • Sukhdev Singh Gangwar;Sanjay Kumar

  • Affiliations:
  • Department of Mathematics, Statistics & Computer Science, G.B. Pant University of Agriculture & Technology, Pantnagar 263145, Uttarakhand, India;Department of Mathematics, Statistics & Computer Science, G.B. Pant University of Agriculture & Technology, Pantnagar 263145, Uttarakhand, India

  • Venue:
  • Expert Systems with Applications: An International Journal
  • Year:
  • 2012

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Abstract

In this paper, we present a computational method of forecasting based on multiple partitioning and higher order fuzzy time series. The developed computational method provides a better approach to enhance the accuracy in forecasted values. The objective of the present study is to establish the fuzzy logical relations of different order for each forecast. Robustness of the proposed method is also examined in case of external perturbation that causes the fluctuations in time series data. The general suitability of the developed model has been tested by implementing it in forecasting of student enrollments at University of Alabama. Further it has also been implemented in the forecasting the market price of share of State Bank of India (SBI) at Bombay Stock Exchange (BSE), India. In order to show the superiority of the proposed model over few existing models, the results obtained have been compared in terms of mean square and average forecasting errors.