AbstractAs it has been already explained, it is very important for circular economies to minimize the wasted resources, as well as maximize the utilization value of the existing ones. To that end, experts can evaluate the materials and give an accurate estimation for both aspects. In that case, one might wonder, why is a decision support system employing machine learning necessary? While a fully automated machine learning model rarely surpasses a human’s ability in such tasks, there are several advantages in employing one. For starters, human experts will be more expensive to employ, rather than use an algorithm. One could claim that research towards developing an efficient and fully automated decision support system would end up costing more than employing actual human experts. In this instance, it is paramount to think long-term. Investing in this kind of research will create systems which are reusable, extensible, and scalable. This aspect alone more than remedies the initial costs. It is also important to observe that, if the number of wastes to be processed is more than the human experts can process in a timely fashion, they will not be able to provide their services, even if employment costs were not a concern. On the contrary, a machine learning model is perfectly capable of scaling to humongous amounts of data, conducting fast data processing and decision making. For power plants with particularly fast processing needs, an automated decision support system is an important asset. Moreover, a decision support system can predict the future based on past observations. While not always entirely spot on, it can give a future estimation about aspects such as energy required, amounts of wastes produced etc. in the future. Therefore, processing plants can plan of time and adapt to specific needs. A human expert can provide this as well to some degree, but on a much smaller scale. Especially in time series forecasting, it is interesting to note that, even if a decision support model does not predict exact values, it is highly likely to predict trends of the value increasing or decreasing in certain ranges. In the next sections, we are going to describe the four machine learning models that were developed and which compose the Decision Support System of FENIX. Section 8.1 describes how we predict the quality of the extracted materials based on features such as temperature, extruder speed, etc. Section 8.2 describes the process of extracting heuristic rules based on existing results. Section 8.3 describes how FENIX provides time-series forecasting to predict the future of a variable based on past observations. Finally, Sect. 8.4 describes the process of classifying materials based on images.
Comparative analysis of the forecasting quality of the classical statistical model and the machine learning model on the data of the Russian stock market
