• Advances in Energy Research
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• v.6 no.2
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• pp.131-143
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• 2019

Global Solar Radiation (GSR) is the key element for performance estimation of any Solar Power Plant (SPP). Its forecasting may help in estimation of power production from a SPP well in advance, and may also render help in optimal use of this power. Seasonal Auto-Regressive Moving Average (SARMA) and Artificial Neural Network (ANN) models are combined in order to develop a hybrid model (SARMA-ANN) conceiving the characteristics of both linear and non-linear prediction models. This developed model has been used for prediction of GSR at Gorakhpur, situated in the northern region of India. The proposed model is beneficial for the univariate forecasting. Along with this model, we have also used Auto-Regressive Moving Average (ARMA), SARMA, ANN based models for 1 - 6 day-ahead forecasting of GSR on hourly basis. It has been found that the proposed model presents least RMSE (Root Mean Square Error) and produces best forecasting results among all the models considered in the present study. As an application, the comparison between the forecasted one and the energy produced by the grid connected PV plant installed on the parking stands of the University shows the superiority of the proposed model.

• Journal of the Korean Society of Industry Convergence
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• v.26 no.4_2
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• pp.657-668
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• 2023

It's important to note that air compressors in the industrial sector are major energy consumers, accounting for a significant portion of total energy costs in manufacturing plants, ranging from 12% to 40%. To address this issue, researchers have compared forecasting models that can predict the power consumption of air compressors. The forecasting models were designed to incorporate variables such as flow rate, pressure, temperature, humidity, and dew point, utilizing statistical methods, machine learning, and deep learning techniques. The model performance was compared using measures such as RMSE, MAE and SMAPE. Out of the 21 models tested, the Elastic Net, a statistical method, proved to be the most effective in power comsumption forecasting.

• Wind and Structures
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• v.38 no.6
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• pp.461-475
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• 2024

A reliable wind speed forecasting method is crucial for the applications in wind engineering. In this study, the generalized S-transform (GST) is innovatively applied for wind speed forecasting to uncover the time-frequency characteristics in the non-stationary wind speed data. The improved grey wolf optimizer (IGWO) is employed to optimize the adjustable parameters of GST to obtain the best time-frequency resolution. Then a hybrid method based on IGWO-optimized GST is proposed to validate the effectiveness and superiority for multi-step non-stationary wind speed forecasting. The historical wind speed is chosen as the first input feature, while the dynamic time-frequency characteristics obtained by IGWO-optimized GST are chosen as the second input feature. Comparative experiment with six competitors is conducted to demonstrate the best performance of the proposed method in terms of prediction accuracy and stability. The superiority of the GST compared to other time-frequency analysis methods is also discussed by another experiment. It can be concluded that the introduction of IGWO-optimized GST can deeply exploit the time-frequency characteristics and effectively improving the prediction accuracy.

• Journal of Digital Convergence
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• v.20 no.5
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• pp.393-400
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• 2022

In a situation where the company handles accounting conservatively, the management's earnings forecasting information will be more conservative, and the conservativeness of this earnings forecasting information will have a differential effect in evaluating the performance of managers and paying compensation. This study aims to examine how the level of corporate accounting conservatism affects the forecast information of managers and how this affects the compensation of managers. This study establishes a hypothesis on the effect of the level of accounting conservatism on the earnings forecasting information and compensation of managers, and examines the relationship between managerial profit forecasting information & manager compensation according of conservatism in corporate accounting that can vary depending on the manager's disposition. As a result of the analysis, conservative managers are also conservative in earnings forecasting disclosure, and when corporate managers are highly conservative, they show their ability by making earnings forecasts disclosures more frequently and more accurately than corporate managers with low conservatism. It will help reduce the forecasting errors of stakeholders. Therefore, it is expected that this will play an important role in judging the manager's ability and determining compensation. Therefore, when a company handles accounting conservatively, management's earnings forecasts are also measured conservatively, which is expected to provide useful information on the basis and form of management's compensation to stakeholders.

• The Transactions of the Korean Institute of Electrical Engineers P
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• v.67 no.4
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• pp.183-190
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• 2018

Predicting accurate electricity prices is an important task in the electricity trading market. To address the electricity price forecasting problem, various approaches have been proposed so far and it is known that linear regression-based approaches are the best. However, the use of such linear regression-based methods is limited due to low accuracy and performance. In traditional linear regression methods, it is not practical to find a nonlinear regression model that explains the training data well. If the training data is complex (i.e., small-sized individual data and large-sized features), it is difficult to find the polynomial function with n terms as the model that fits to the training data. On the other hand, as a linear regression model approximating a nonlinear regression model is used, the accuracy of the model drops considerably because it does not accurately reflect the characteristics of the training data. To cope with this problem, we propose a new electricity price forecasting method that divides the entire dataset to multiple split datasets and find the best linear regression models, each of which is the optimal model in each dataset. Meanwhile, to improve the performance of the proposed method, we modify the proposed localized linear regression method in the map and reduce way that is a framework for parallel processing data stored in a Hadoop distributed file system. Our experimental results show that the proposed model outperforms the existing linear regression model. Specifically, the accuracy of the proposed method is improved by 45% and the performance is faster 5 times than the existing linear regression-based model.

• Asia-Pacific Journal of Atmospheric Sciences
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• v.54 no.4
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• pp.623-637
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• 2018

This study investigates the effects of horizontal resolution, cumulus parameterization scheme (CPS), and probability forecasting on precipitation forecasts over the Korean Peninsula from 00 UTC 15 August to 12 UTC 14 September 2013, using the limited-area ensemble prediction system (LEPS) of the Korea Meteorological Administration. To investigate the effect of resolution, the control members of the LEPS with 1.5- and 3-km resolution were compared. Two 3-km experiments with and without the CPS were conducted for the control member, because a 3-km resolution lies within the gray zone. For probability forecasting, 12 ensemble members with 3-km resolution were run using the LEPS. The forecast performance was evaluated for both the whole study period and precipitation cases categorized by synoptic forcing. The performance of precipitation forecasts using the 1.5-km resolution was better than that using the 3-km resolution for both the total period and individual cases. The result of the 3-km resolution experiment with the CPS did not differ significantly from that without it. The 3-km ensemble mean and probability matching (PM) performed better than the 3-km control member, regardless of the use of the CPS. The PM complemented the defect of the ensemble mean, which better predicts precipitation regions but underestimates precipitation amount by averaging ensembles, compared to the control member. Further, both the 3-km ensemble mean and PM outperformed the 1.5-km control member, which implies that the lower performance of the 3-km control member compared to the 1.5-km control member was complemented by probability forecasting.

• The Journal of Information Systems
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• v.30 no.2
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• pp.147-163
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• 2021

Purpose The study aims to predict real estate prices by utilizing regional characteristics. Since real estate has the characteristic of immobility, the characteristics of a region have a great influence on the price of real estate. In addition, real estate prices are closely related to economic development and are a major concern for policy makers and investors. Accurate house price forecasting is necessary to prepare for the impact of house price fluctuations. To improve the performance of our predictive models, we applied LSTM, a widely used deep learning technique for predicting time series data. Design/methodology/approach This study used time series data on real estate prices provided by the Ministry of Land, Infrastructure and Transport. For time series data preprocessing, HP filters were applied to decompose trends and SOM was used to cluster regions with similar price directions. To build a real estate price prediction model, SVR and LSTM were applied, and the prices of regions classified into similar clusters by SOM were used as input variables. Findings The clustering results showed that the region of the same cluster was geographically close, and it was possible to confirm the characteristics of being classified as the same cluster even if there was a price level and a similar industry group. As a result of predicting real estate prices in 1, 2, and 3 months, LSTM showed better predictive performance than SVR, and LSTM showed better predictive performance in long-term forecasting 3 months later than in 1-month short-term forecasting.

• Journal of Korea Water Resources Association
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• v.54 no.3
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• pp.157-166
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• 2021

Forecasting dam inflow based on high reliability is required for efficient dam operation. In this study, deep learning technique, which is one of the data-driven methods and has been used in many fields of research, was manipulated to predict the dam inflow. The Long Short-Term Memory deep learning with Sequence-to-Sequence model (LSTM-s2s), which provides high performance in predicting time-series data, was applied for forecasting inflow of Soyang River dam. Various statistical metrics or evaluation indicators, including correlation coefficient (CC), Nash-Sutcliffe efficiency coefficient (NSE), percent bias (PBIAS), and error in peak value (PE), were used to evaluate the predictive performance of the model. The result of this study presented that the LSTM-s2s model showed high accuracy in the prediction of dam inflow and also provided good performance for runoff event based runoff prediction. It was found that the deep learning based approach could be used for efficient dam operation for water resource management during wet and dry seasons.

• Journal of Korean Society on Water Environment
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• v.30 no.1
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• pp.16-24
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• 2014

A combined watershed and receiving waterbody model was developed for operational water flow forecasting of the Nakdong river. The Hydrological Simulation Program Fortran (HSPF) was used for simulating the flow rates at major tributaries. To simulate the flow dynamics in the main stream, a three-dimensional hydrodynamic model, EFDC was used with the inputs derived from the HSPF simulation. The combined models were calibrated and verified using the data measured under different hydrometeological and hydraulic conditions. The model results were generally in good agreement with the field measurements in both calibration and verification. The 7-days forecasting performance of water flows in the Nakdong river was satisfying compared with model calibration results. The forecasting results suggested that the water flow forecasting errors were primarily attributed to the uncertainties of the models, numerical weather prediction, and water release at the hydraulic structures such as upstream dams and weirs. From the results, it is concluded that the combined watershed-waterbody model could successfully simulate the water flows in the Nakdong river. Also, it is suggested that integrating real-time data and information of dam/weir operation plans into model simulation would be essential to improve forecasting reliability.

• Journal of Intelligence and Information Systems
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• v.4 no.1
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• pp.133-147
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• 1998

Recently, many researchers have been involved in finding deterministic equations which can accurately predict future event, based on chaotic theory, or fractal theory. The theory says that some events which seem very random but internally deterministic can be accurately predicted by fractal equations. In contrast to the conventional methods, such as AR model, MA, model, or ARIMA model, the fractal equation attempts to discover a deterministic order inherent in time series data set. In discovering deterministic order, researchers have found that neural networks are much more effective than the conventional statistical models. Even though prediction accuracy of the network can be different depending on the topological structure and modification of the algorithms, many researchers asserted that the neural network systems outperforms other systems, because of non-linear behaviour of the network models, mechanisms of massive parallel processing, generalization capability based on adaptive learning. However, recent survey shows that prediction accuracy of the forecasting models can be determined by the model structure and data structures. In the experiments based on actual economic data sets, it was found that the prediction accuracy of the neural network model is similar to the performance level of the conventional forecasting model. Especially, for the data set which is deterministically chaotic, the AR model, a conventional statistical model, was not significantly different from the MLP model, a neural network model. This result shows that the forecasting model. This result shows that the forecasting model a, pp.opriate to a prediction task should be selected based on characteristics of the time series data set. Analysis of the characteristics of the data set was performed by fractal analysis, measurement of Hurst index, and measurement of Lyapunov exponents. As a conclusion, a significant difference was not found in forecasting future events for the time series data which is deterministically chaotic, between a conventional forecasting model and a typical neural network model.