FORECASTING FUZZY TIME SERIES ON A HEURISTIC HIGH-ORDER MODEL

Chen first proposed the high-order fuzzy-time series model to overcome the drawback of existing fuzzy first-order forecasting models. His model involved easy calculations and forecasted more accurately than the other models. This study proposes an enhanced fuzzy-time series model, called heuristic h...

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Bibliographic Details
Published in:Cybernetics and systems 2005-10, Vol.36 (7), p.705-717
Main Authors: Own, Chung-Ming, Yu, Pao-Ta
Format: Article
Language:English
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Summary:Chen first proposed the high-order fuzzy-time series model to overcome the drawback of existing fuzzy first-order forecasting models. His model involved easy calculations and forecasted more accurately than the other models. This study proposes an enhanced fuzzy-time series model, called heuristic high-order fuzzy time series model, to deal with forecasting problems. The proposed model aims to overcome the deficiency of Chen's model, which depends strongly on the highest-order fuzzy-time series to eliminate ambiguities at forecasting and requires a vast memory for data storage. The empirical analysis reveals that the proposed model yields more accurate forecasts.
ISSN:0196-9722
1087-6553
DOI:10.1080/01969720591008922