A historic Review of Grey Forecasting Models.

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Bibliographic Details
Title:	A historic Review of Grey Forecasting Models.
Authors:	Naiming Xie^1,2 xienaiming@nuaa.edu.cn, Ruizhi Wang^1,2
Source:	Journal of Grey System. 2017, Vol. 29 Issue 4, p1-29. 29p.
Subjects:	Gray forecasting model, Energy management, Economic forecasting, Technological innovations, Problem solving
Abstract:	This manuscript aims to summarize the evolution of grey forecasting models and their applications in recent three decades and digs out several valuable research directions of grey forecasting models. Firstly, general process of grey forecasting modelling and theoretical principles of grey models GM (1, 1) and GM (1, N) were defined. Subsequently, theoretical breakthroughs and real practical applications were summarized and detailed discussed. Theoretical breakthroughs emphasized on modelling sequences generating methods, optimization of the background values and grey derivative, parameters solving and optimization, novel model construction and models ' properties analysis. While practical applications covered economic forecasting and management analysis, energy analysis and management, agriculture and resources forecasting, environment and calamity forecasting, etc. Finally, several possible research trends of grey forecasting models are proposed. Framework of grey forecasting approach could be referred to solve different real applications. Summarized thinking about the trend of grey forecasting models and applications could point out the directions of grey forecasting research and help to find valuable questions. [ABSTRACT FROM AUTHOR]
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Database:	Engineering Source

Description
Abstract:	This manuscript aims to summarize the evolution of grey forecasting models and their applications in recent three decades and digs out several valuable research directions of grey forecasting models. Firstly, general process of grey forecasting modelling and theoretical principles of grey models GM (1, 1) and GM (1, N) were defined. Subsequently, theoretical breakthroughs and real practical applications were summarized and detailed discussed. Theoretical breakthroughs emphasized on modelling sequences generating methods, optimization of the background values and grey derivative, parameters solving and optimization, novel model construction and models ' properties analysis. While practical applications covered economic forecasting and management analysis, energy analysis and management, agriculture and resources forecasting, environment and calamity forecasting, etc. Finally, several possible research trends of grey forecasting models are proposed. Framework of grey forecasting approach could be referred to solve different real applications. Summarized thinking about the trend of grey forecasting models and applications could point out the directions of grey forecasting research and help to find valuable questions. [ABSTRACT FROM AUTHOR]
ISSN:	09573720