A comparison of sales forecasting methods for a feed company: A case study
Abstract
Due to
global warming in recent years, using natural resources in an effective way has
become more and more important to our world. Decreasing natural resources are
pushing agriculture and food chains to adopt more efficient management
strategies. The first condition for a successful management is to make plans
based on accurate and reliable forecasts. In this study, using real-world data,
forecasting models are compared for the products of a feed company which is the
first chain of agriculture and food chain systems. The traditional statistical
time series methods are compared to two popular and effective computational
intelligence techniques, i.e. artificial neural networks and support vector
regression. The accuracy of the forecasts is calculated by three different
error measures, i.e., the mean absolute error (MAE), the mean absolute
percentage error (MAPE), and the mean squared error (MSE). The results show
that support vector machines produces significantly better results comparing to
both time series methods and artificial neural networks.
Keywords
References
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Details
Primary Language
English
Subjects
Engineering
Journal Section
Research Article
Publication Date
August 17, 2018
Submission Date
November 16, 2017
Acceptance Date
-
Published in Issue
Year 2018 Volume: 24 Number: 4