Advances in Time Series Forecasting

Volume: 1

A Hybrid Forecasting Model Based on Multivariate Fuzzy Time Series and Artificial Neural Networks

Author(s): Cagdas Hakan Aladag and Erol Eǧrioǧlu

Pp: 118-129 (12)

DOI: 10.2174/978160805373511201010118

* (Excluding Mailing and Handling)


Fuzzy time series approaches have been recently used for forecasting in many studies [1]. These approaches can be categorized into two subclasses that are univariate and multivariate approaches. It is a fact that many factors can actually affect real time series data. Therefore, using a multivariate fuzzy time series forecasting model can be more reasonable in order to get more accurate forecasts. The most preferred method is using tables of fuzzy relations for determining fuzzy relations in multivariate fuzzy time series approaches in the literature. However, employing this method is a computationally though task. In this study, we propose a new method based on utilizing artificial neural networks in determining fuzzy logic relations and using the formula defined by Jilani and Burney [2] in calculating defuzzyfied forecasts. Hence, it is aimed to produce more accurate forecasts and avoid intense computations. The proposed method is applied to the time series data of the total number of annual car road accidents casualties in Belgium from 1974 to 2004 and a comparison is made between our proposed method and the methods proposed by Jilani and Burney [2] and Lee et al. [3].

Keywords: Artificial neural networks, Forecasting, Fuzzy time series, Multivariate fuzzy time series approaches.

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