Comparison of Demand Forecasting Methods for Global and Local Demand: The Case of Classic Literature Demand Forecasting
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F61989100%3A27510%2F25%3A10258799" target="_blank" >RIV/61989100:27510/25:10258799 - isvavai.cz</a>
Result on the web
<a href="https://ecocyb.ase.ro/nr2025_2/18_AndreaKolkova.pdf" target="_blank" >https://ecocyb.ase.ro/nr2025_2/18_AndreaKolkova.pdf</a>
DOI - Digital Object Identifier
<a href="http://dx.doi.org/10.24818/18423264/59.2.25.18" target="_blank" >10.24818/18423264/59.2.25.18</a>
Alternative languages
Result language
angličtina
Original language name
Comparison of Demand Forecasting Methods for Global and Local Demand: The Case of Classic Literature Demand Forecasting
Original language description
Forecasting is an integral part of entrepreneurship. The aim of this paper is to use Google Trends data to predict the local demand for books in the Czech Republic and compare it with the global demand. The forecasting will be done with data by Google Trends and by book purchases. Both approaches will be compared. It will also be evaluated whether the use of multiple measures of accuracy will lead to different results. The methods chosen for forecasting were seasonal naive method, ARIMA and ARFIMA method, ETS method, Holt and HoltWinters method. The calculations will be completed with BATS and artificial neural network methods and Hybrid method. For the GT data, the extent to which the search-based model accurately matches the actual purchases was quantified. It is an innovative concept. From the results, it can be concluded that all methods on the data for the Czech Republic, and on both sets of data, predict demand stagnation. For the global comparison, the results are different. Furthermore, it is clear that the calculation by search I purchases data gives similar results.
Czech name
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Czech description
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Classification
Type
J<sub>imp</sub> - Article in a specialist periodical, which is included in the Web of Science database
CEP classification
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OECD FORD branch
50200 - Economics and Business
Result continuities
Project
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Continuities
I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace
Others
Publication year
2025
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Name of the periodical
Economic Computation and Economic Cybernetics Studies and Research
ISSN
0424-267X
e-ISSN
1842-3264
Volume of the periodical
59
Issue of the periodical within the volume
2
Country of publishing house
RO - ROMANIA
Number of pages
16
Pages from-to
294-309
UT code for WoS article
001530455900018
EID of the result in the Scopus database
2-s2.0-105009000450