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
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DOI - Digital Object Identifier
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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
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
AE - Management, administration and clerical work
OECD FORD branch
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Result continuities
Project
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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
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e-ISSN
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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
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