Sales Prediction Applying Linguistic Fuzzy Logic Forecaster

Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F19%3A10243849" target="_blank" >RIV/61989100:27510/19:10243849 - isvavai.cz</a>
Result on the web
<a href="https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf" target="_blank" >https://mme2019.ef.jcu.cz/files/conference_proceedings.pdf</a>
DOI - Digital Object Identifier
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Result language
angličtina
Original language name
Sales Prediction Applying Linguistic Fuzzy Logic Forecaster
Original language description
In this contribution, we focus on sales prediction by means of Linguistic Fuzzy Logic Forecaster (LFL-Forecaster). To be more specific, we compare the accu-racy of the prediction obtained by means of this method and the prediction ac-curacy of standard approaches such as extrapolation of the time series and time series decomposition into trend and seasonal component. As the benchmark, we also apply the prediction based on the last known sales and average sales in the previous period. The LFL-forecaster combines the fuzzy transform technique to extract the trend part with fuzzy natural logic in order to forecast future values. Both methods apply the principles of fuzzy sets. From the obtained results, we demonstrate that for selected time series of sales the LFL-Forecaster provides the most accurate prediction in the out-of-sample period, however even this method is prone to the changes in the length of input data and structural breaks.
Czech name
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Czech description
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Project
Result was created during the realization of more than one project. More information in the Projects tab.
Continuities
P - Projekt vyzkumu a vyvoje financovany z verejnych zdroju (s odkazem do CEP)<br>S - Specificky vyzkum na vysokych skolach

Publication year
2019
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection
MME 2019 : 37th International Conference on Mathematical Methods in Economics 2019 : conference proceedings : České Budějovice, September 11-13, 2019
ISBN
978-80-7394-760-6
ISSN
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e-ISSN
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Number of pages
6
Pages from-to
445-450
Publisher name
Jihočeská univerzita v Českých Budějovicích
Place of publication
České Budějovice
Event location
České Budějovice
Event date
Sep 11, 2019
Type of event by nationality
CST - Celostátní akce
UT code for WoS article
000507570400074

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