A Comparative Study of Machine Learning and Deep Learning for Time Series Forecasting: A Case Study of Choosing the Best Prediction Model for Turkey Electricity Production
Abstract
Over the last decades, Turkey pays special attention to electricity productionbto afford its needs. Researchers applied different methodologies including statisticalbased and artificial intelligence-based to correctly predict the future amount of electricity production, consumption, and demand. However,limited researchers focused on Turkey’s electricity production prediction problem as a time series analysis. For this reason, we tackle this problem by considering it as a time series analysis in this study. We have used different methods including traditional machine learning algorithms Support Vector Regression (SVR) and Multilayer Perceptrons (MLP) and a deep learning algorithm Long Short-Term Memory (LSTM) to create a better model for Turkey monthly electricity production dataset. Based on our findings LSTM outperforms SVR and MLP approaches in terms of commonly used statistical error evaluation metrics.
Keywords
References
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Details
Primary Language
English
Subjects
Engineering
Journal Section
Research Article
Authors
Ramazan Ünlü
*
0000-0002-1201-195X
Türkiye
Publication Date
August 25, 2019
Submission Date
December 10, 2018
Acceptance Date
July 30, 2019
Published in Issue
Year 2019 Volume: 23 Number: 2
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