Non-traditional methods of forecasting

Article Abstract:

The rise of modern techniques for forecasting, such as neural networks, multiple model switching and combinations, has restructured the way decisions are made in specifying models depending on the type of applications. For example, model synthesis is used for short-term usage requiring accuracy. However, for long-term applications in risk-based business tactics, model divergence is used. What is required, therefore, is interactive process wherein opinions are considered along with modelling of data.

Research, Methods, Usage, Computer networks, Neural networks, Combinatorial optimization

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Industry simulation: system modelling with an object oriented DEVS technology

Article Abstract:

Industry simulation modelling has been adopted by many firms for business planning support and future policy development. System dynamics technology has been traditionally used for industry simulations. However, its applications have been constrained by the technology's structure, focus, time-representation and reusability. The object oriented discrete event system specification is presented as a more structured and better alternative for simulation modelling.

Operations research, Management science, Models, Simulation methods, Simulation, Industrial development, Industrialization

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review of guidleines for the use of combined forecasts

Article Abstract:

Issues relating to combining forecasts are examined in detail, including their history, and the development of practical guidelines for their usage.

Research and Development in the Physical, Engineering, and Life Sciences, Statistics, Analysis, Study and teaching, Statistics (Data), Statistics (Mathematics)

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