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The Impact of Aggregation Level on the Forecasting Accuracy of Petroleum Consumption

The result's identifiers

  • Result code in IS VaVaI

    <a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216275%3A25310%2F14%3A39898068" target="_blank" >RIV/00216275:25310/14:39898068 - isvavai.cz</a>

  • Result on the web

  • DOI - Digital Object Identifier

Alternative languages

  • Result language

    angličtina

  • Original language name

    The Impact of Aggregation Level on the Forecasting Accuracy of Petroleum Consumption

  • Original language description

    Hierarchical forecasting represents an approach to forecasting which takes account of the possibility of integration of foreseen items into related groups in accordance with chosen aggregation variables. Therefore, it is possible to use it in creation ofa system of forecasts on different aggregation levels in the way the created forecasts are in mutual time and material harmony. The thing is that in hierarchical forecasting the final forecasts are created from forecasts on a lower level of aggregation(bottom-up process), or from forecasts on a higher level of aggregation (top-down process). However, the knowledge of the influence of the aggregation level on the accuracy of the arising forecasts is a necessary condition of using the right approach tohierarchical forecasting. This paper describes the principles of hierarchical forecasting and the possibilities of their utilization within forecasting development of time series in consumption of basic petroleum products in the EU countr

  • Czech name

  • Czech description

Classification

  • Type

    D - Article in proceedings

  • CEP classification

    AE - Management, administration and clerical work

  • OECD FORD branch

Result continuities

  • Project

  • Continuities

    I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Others

  • Publication year

    2014

  • Confidentiality

    S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Data specific for result type

  • Article name in the collection

    SGEM Conference on Political Sciences, Law, Finance, Economics and Tourism, Conference proceedings, Volume III, "Economics and Tourism"

  • ISBN

    978-619-7105-27-8

  • ISSN

  • e-ISSN

  • Number of pages

    8

  • Pages from-to

    629-636

  • Publisher name

    SGEM

  • Place of publication

    Sofia

  • Event location

    Albena

  • Event date

    Sep 3, 2014

  • Type of event by nationality

    WRD - Celosvětová akce

  • UT code for WoS article