Time series forecasting of styrene price using a hybrid ARIMA and neural network model

• Autor(a) principal: Ghahnavieh, Ali Ebrahimi
• Data de Publicação: 2019
• Tipo de documento: Artigo
• Idioma: eng
• Título da fonte: Independent Journal of Management & Production
• DOI: 10.14807/ijmp.v10i3.877
• Texto Completo: http://www.ijmp.jor.br/index.php/ijmp/article/view/877
• topic: ARIMA; Hybrid ARIMA-ANN; Artificial neural networks; Time series forecasting

Every player in the market has a greater need to know about the smallest change in the market. Therefore, the ability to see what is ahead is a valuable advantage. The purpose of this research is to make an attempt to understand the behavioral patterns and try to find a new hybrid forecasting approach based on ARIMA-ANN for estimating styrene price. The time series analysis and forecasting is an essential tool which could be widely useful for finding the significant characteristics for making future decisions. In this study ARIMA, ANN and Hybrid ARIMA-ANN models were applied to evaluate the previous behavior of a time series data, in order to make interpretations about its future behavior for styrene price. Experimental results with real data sets show that the combined model can be most suitable to improve forecasting accurateness rather than traditional time series forecasting methodologies. As a subset of the literature, the small number of studies have been done to realize the new forecasting methods for forecasting styrene price.