Case Study: Analysis and Predictions of Shipment Load in Festive Season

2017 ◽  
Vol 7 (7) ◽  
pp. 491
Author(s):  
Megha Chhabra
Keyword(s):  
Time Series Models ◽  
Multiplicative Decomposition ◽  
Short Term ◽  
Case Study Analysis ◽  
Use Of Time ◽  
Load Demand ◽  
Huge Impact ◽  
Short Term Forecasting ◽  
Festive Season

A time-phased forecasting in rest of the year has a huge impact shipping costs, however during a festive season of the year, well predicted and analyzed re-engineering of shipment load plays a major role in bringing up sales. The major concern of the customer is to get delivery on-time, whereas that of the wholesaler / retailer is to provide delivery without any complaint in order to retain the customer. In the framework of competitive supply chain market, necessary accurate Shipping load forecasting tools are required. With the focus of improving prediction accuracy, this case study presents use of Time-series models, multiplicative decomposition model (MDM) and smoothening techniques, on shipping load demand of Arora-Ludhiana-Handlooms during festive seasons for short-term forecasting.

Time Series Forecasting in Retail Sales Using LSTM and Prophet

2021 ◽  
pp. 241-262
Author(s):  
Clony Junior ◽  
Pedro Gusmão ◽  
José Moreira ◽  
Ana Maria M. Tome
Keyword(s):  
Time Series ◽  
Data Science ◽  
Short Term Memory ◽  
Special Kind ◽  
Time Series Forecasting ◽  
Short Term ◽  
Term Memory ◽  
Use Of Time

Data science highlights fields of study and research such as time series, which, although widely explored in the past, gain new perspectives in the context of this discipline. This chapter presents two approaches to time series forecasting, long short-term memory (LSTM), a special kind of recurrent neural network (RNN), and Prophet, an open-source library developed by Facebook for time series forecasting. With a focus on developing forecasting processes by data mining or machine learning experts, LSTM uses gating mechanisms to deal with long-term dependencies, reducing the short-term memory effect inherent to the traditional RNN. On the other hand, Prophet encapsulates statistical and computational complexity to allow broad use of time series forecasting, prioritizing the expert's business knowledge through exploration and experimentation. Both approaches were applied to a retail time series. This case study comprises daily and half-hourly forecasts, and the performance of both methods was measured using the standard metrics.

A New Approach in Short-Term Prediction of the Electrical Charge with Regression Models A Case Study

2013 ◽  
Vol 4 (3) ◽  
pp. 34-46
Author(s):  
Farhad Soleimanian Gharehchopoghi ◽  
Freshte Dabaghchi Mokri ◽  
Maryam Molany
Keyword(s):  
Power Systems ◽  
Distribution Systems ◽  
Short Term ◽  
Forecasting Error ◽  
Load Fluctuation ◽  
Distribution Company ◽  
Short Term Forecasting ◽  
West Azerbaijan ◽  
Short Term Prediction

The accuracy of forecasting of electrical load for the electricity industry has a vital significance in the renewal of economic structure as well as various equations including: purchasing and producing energy, load fluctuation, and the development of infrastructures. Its short-term forecasting has a significant role in designing and utilizing power systems and in the distribution systems and having a variety of systems used to maintain security potentials for the system. In this paper, we attempted to carry out a short-term forecasting of electrical distribution company in west Azerbaijan state in Iran's electricity in a few days on the basis of regression multi linear model. This forecasting which was done during a three-day period is and categorized weekdays into three groups including working days, weekends, and holidays was carried out in an hourly manner. This model regardless of parameters like humidity, wind velocity, daylight time, etc. by minimizing the forecasting error managed to maximize the reliability of the results as well as the safety potential of the system. In this model the only influential parameter on the forecasting was the reliance of the forecasting day on previous days. The main purpose of the present study was to maximize the accuracy and reliability of forecasting for certain days (religious holidays, national holidays …). In this paper, the authors managed to decrease the error of forecasting for particular and regular off days to a great extent.

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