Predicting product demand from small-sized data: grey models

Özdemir A., Özdağoğlu G.

GREY SYSTEMS-THEORY AND APPLICATION, vol.7, no.1, pp.80-96, 2017 (SCI-Expanded) identifier

  • Publication Type: Article / Article
  • Volume: 7 Issue: 1
  • Publication Date: 2017
  • Doi Number: 10.1108/gs-10-2016-0038
  • Journal Name: GREY SYSTEMS-THEORY AND APPLICATION
  • Journal Indexes: Science Citation Index Expanded (SCI-EXPANDED)
  • Page Numbers: pp.80-96
  • Keywords: Grey models, Demand prediction, Grey-Markov model, Textile product
  • Dokuz Eylül University Affiliated: Yes

Abstract

Purpose - Prediction problems raised in uncertain environments require different solution approaches such as grey prediction models, which consider uncertainty in information and also enable the use of small data sets. The purpose of this paper is to investigate the comparative performances of grey prediction models (GM) and Markov chain integrated grey models in a demand prediction problem.