Wavelet Decomposition Impacts on Traditional Forecasting Time Series Models

This investigative study is focused on the impact of wavelet on traditional forecasting time-series models, which significantly shows the usage of wavelet algorithms. Wavelet Decomposition (WD) algorithm has been combined with various traditional forecasting time-series models, such as Least Square...

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Bibliographic Details
Published in:Computer modeling in engineering & sciences 2022, Vol.130 (3), p.1517-1532
Main Authors: Shaikh, W A, Shah, S F, Pandhiani, S M, Solangi, M A
Format: Article
Language:English
Subjects:
Algorithms
Artificial neural networks
Decomposition
Forecasting
Mathematical models
Statistical analysis
Support vector machines
Time series
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Summary:This investigative study is focused on the impact of wavelet on traditional forecasting time-series models, which significantly shows the usage of wavelet algorithms. Wavelet Decomposition (WD) algorithm has been combined with various traditional forecasting time-series models, such as Least Square Support Vector Machine (LSSVM), Artificial Neural Network (ANN) and Multivariate Adaptive Regression Splines (MARS) and their effects are examined in terms of the statistical estimations. The WD has been used as a mathematical application in traditional forecast modelling to collect periodically measured parameters, which has yielded tremendous constructive outcomes. Further, it is observed that the wavelet combined models are classy compared to the various time series models in terms of performance basis. Therefore, combining wavelet forecasting models has yielded much better results.
ISSN:1526-1506
1526-1492
1526-1506
DOI:10.32604/cmes.2022.017822