• Atmosphere
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• v.28 no.3
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• pp.291-303
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• 2018

In this study, a new consensus technique for predicting tropical cyclone (TC) intensity in the western North Pacific was developed. The most important feature of the present consensus model is to select and combine the guidance numerical models with the best performance in the previous years based on various evaluation criteria and averaging methods. Specifically, the performance of the guidance models was evaluated using both the mean absolute error and the correlation coefficient for each forecast lead time, and the number of the numerical models used for the consensus model was not fixed. In averaging multiple models, both simple and weighted methods are used. These approaches are important because that the performance of the available guidance models differs according to forecast lead time and is changing every year. In particular, this study develops both a multi-consensus model (M-CON), which constructs the best consensus models with the lowest error for each forecast lead time, and a single best consensus model (S-CON) having the lowest 72-hour cumulative mean error, through on training process. The evaluation results of the selected consensus models for the training and forecast periods reveal that the M-CON and S-CON outperform the individual best-performance guidance models. In particular, the M-CON showed the best overall performance, having advantages in the early stages of prediction. This study finally suggests that forecaster needs to use the latest evaluation results of the guidance models every year rather than rely on the well-known accuracy of models for a long time to reduce prediction error.

• Communications for Statistical Applications and Methods
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• v.19 no.6
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• pp.869-876
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• 2012

In this paper, we applied seasonal time series models such as ARIMA, FARIMA, AR-GARCH and Holt-Winters in consideration of seasonality to forecast short-term electricity demand data. The results for performance evaluation on the time series models show that seasonal FARIMA and seasonal Holt-Winters models perform adequately under the criterion of Mean Absolute Percentage Error(MAPE).

• Atmosphere
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• v.34 no.1
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• pp.23-34
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• 2024

The Korea Meteorological Administration has improved medium-range weather forecasts by implementing post-processing methods to minimize numerical model errors. In this study, we employ a statistical correction technique known as the minimum continuous ranked probability score (CRPS) to refine medium-range forecast guidance. This technique quantifies the similarity between the predicted values and the observed cumulative distribution function of the Unified Model Ensemble Prediction System for Global (UM EPSG). We evaluated the performance of the medium-range forecast guidance for surface air temperature and relative humidity, noting significant enhancements in seasonal bias and root mean squared error compared to observations. Notably, compared to the existing the medium-range forecast guidance, temperature forecasts exhibit 17.5% improvement in summer and 21.5% improvement in winter. Humidity forecasts also show 12% improvement in summer and 23% improvement in winter. The results indicate that utilizing the minimum CRPS for medium-range forecast guidance provide more reliable and improved performance than UM EPSG.

• The Journal of Asian Finance, Economics and Business
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• v.6 no.4
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• pp.91-98
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• 2019

Dividend policy is an important business decision and is considered a channel to communicate a firm's performance to shareholders. Given the empirical findings that earnings quality significantly affects financial analysts' forecasting activities, it is predicted that higher earnings quality would positively influence forecast accuracy. Specifically, it is expected that financial analysts would forecast dividends more accurately for firms with higher earning quality. Unlike the research on financial analysts' earnings forecasts was heavily conducted, there is little study about financial analysts' dividend forecasts. This paper examines the effect of earnings quality on financial analysts' dividend forecast accuracy. We use a sample of South Korean firms for the period of 2011-2015 for multivariate regression. Earnings quality is measured by accruals quality and performance-adjusted discretionary accruals followed by prior studies. We first compare the accuracy between dividend forecasts and earnings forecasts using t-test and Wilcoxon singed-rank test. It is confirmed that financial analysts' dividend forecasts are more accurate than earnings forecasts in Korea. We find that financial analysts' dividend forecasts are more accurate for firms with higher earnings quality. We also find that the result is still valid after controlling for the accuracy of financial analysts' earnings forecasts. This confirms that earnings quality positively affects financial analysts' dividend forecasts.

• Journal of Environmental Science International
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• v.27 no.7
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• pp.531-541
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• 2018

Road freezing caused by snowfall during wintertime causes traffic congestion and many accidents. To prevent such problems, we developed, in this study, a system to predict road freezing based on weather forecast data and the freezing generation modules. The weather forecast data were obtained from a high-resolution model with 1 km resolution for Jeju Island from 00:00 KST on December 1, 2017, to 23:00 KST on February 28, 2018. The results of the weather forecast data show that index of agreement (IOA) temperature was higher than 0.85 at all points, and that for wind speed was higher than 0.7 except in Seogwipo city. In order to evaluate the results of the freezing predictions, we used model evaluation metrics obtained from a confusion matrix. These metrics revealed that, the Imacho module showed good performance in precision and accuracy and that the Karlsson module showed good performance in specificity and FP rate. In particular, Cohen's kappa value was shown to be excellent for both modules, demonstrating that the algorithm is reliable. The superiority of both the modules shows that the new system can prevent traffic problems related to road freezing in the Jeju area during wintertime.

• The Transactions of The Korean Institute of Electrical Engineers
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• v.61 no.12
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• pp.1765-1773
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• 2012

The accuracy of load forecast is very important from the viewpoint of economical power system operation. In general, the weekdays' load demand pattern has the continuous time series characteristics. Therefore, the conventional methods expose stable performance for weekdays. In case of special days or weekends, the load demand pattern has the discontinuous time series characteristics, so forecasting error is relatively high. Especially, weekdays near the thanksgiving day and lunar new year's day have the mixed load profile characteristics of both weekdays and weekends. Therefore, it is difficult to forecast these days by using the existing algorithms. In this study, a new load forecasting method is proposed in order to enhance the accuracy of the forecast result considering the characteristics of weekdays and weekends. The proposed method was tested with these days during last decades, which shows that the suggested method considerably improves the accuracy of the load forecast results.

• Atmosphere
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• v.32 no.3
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• pp.191-206
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• 2022

Assimilation trials were performed using the Korea Institute of Atmospheric Prediction Systems (KIAPS) Korea Integrated Model (KIM) semi-operational forecast system to assess the impact of ground-based Global Navigation Satellite System (GNSS) Zenith Total Delay (ZTD) on forecast. To use the optimal observation in data assimilation of KIM forecast system, in this study, the ZTD observation were pre-processed. It involves the bias correction using long term background of KIM, the quality control based on background and the thinning of ZTD data. Also, to give the effect of observation directly to data assimilation, the observation operator which include non-linear model, tangent linear model, adjoint model, and jacobian code was developed and verified. As a result, impact of ZTD observation in both analysis and forecast was neutral or slightly positive on most meteorological variables, but positive on geopotential height. In addition, ZTD observations contributed to the improvement on precipitation of KIM forecast, specially over 5 mm/day precipitation intensity.

• Proceedings of the Korea Water Resources Association Conference
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• 2023.05a
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• pp.37-37
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• 2023

There is currently a high-accuracy modern forecasting method that uses machine learning algorithms or artificial neural network models to forecast river water levels or flowrate. As a result, this study aims to develop a mathematical model based on artificial neural networks to effectively forecast river water levels upstream of Tranh Culvert in North Vietnam's Bac Hung Hai irrigation system. The mathematical model was thoroughly studied and evaluated by using hydrological data from six gauge stations over a period of twenty-two years between 2000 and 2022. Furthermore, the results of the developed model were also compared to those of the long-short-term memory neural networks model. This study performs four predictions, with a forecast time ranging from 6 to 24 hours and a time step of 6 hours. To validate and test the model's performance, the Nash-Sutcliffe efficiency coefficient (NSE), mean absolute error, and root mean squared error were calculated. During the testing phase, the NSE of the model varies from 0.981 to 0.879, corresponding to forecast cases from one to four time steps ahead. The forecast results from the model are very reasonable, indicating that the model performed excellently. Therefore, the proposed model can be used to forecast water levels in North Vietnam's irrigation system or rivers impacted by tides.

• Journal of Korea Water Resources Association
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• v.50 no.11
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• pp.769-779
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• 2017

As the occurrence of drought is recently on the rise, the reliable drought forecasting is required for developing the drought mitigation and proactive management of water resources. This study developed a probabilistic hydrological drought forecasting method using the Bayesian Networks and drought propagation relationship to estimate future drought with the forecast uncertainty, named as the Propagated Bayesian Networks Drought Forecasting (PBNDF) model. The proposed PBNDF model was composed with 4 nodes of past, current, multi-model ensemble (MME) forecasted information and the drought propagation relationship. Using Palmer Hydrological Drought Index (PHDI), the PBNDF model was applied to forecast the hydrological drought condition at 10 gauging stations in Nakdong River basin. The receiver operating characteristics (ROC) curve analysis was applied to measure the forecast skill of the forecast mean values. The root mean squared error (RMSE) and skill score (SS) were employed to compare the forecast performance with previously developed forecast models (persistence forecast, Bayesian network drought forecast). We found that the forecast skill of PBNDF model showed better performance with low RMSE and high SS of 0.1~0.15. The overall results mean the PBNDF model had good potential in probabilistic drought forecasting.

• Atmosphere
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• v.25 no.1
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• pp.1-18
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• 2015

The most objective way to overcome the limitation of numerical weather prediction model is to represent the uncertainty of prediction by introducing probabilistic forecast. The uncertainty of the numerical weather prediction system developed due to the parameterization of unresolved scale motions and the energy losses from the sub-scale physical processes. In this study, we focused on the growth of model errors. We performed ensemble forecast to represent model uncertainty. By employing the multi-physics scheme (PHYS) and the stochastic kinetic energy backscatter scheme (SKEBS) in simulating typhoon Rusa (2002), we assessed the performance level of the two schemes. The both schemes produced better results than the control run did in the ensemble mean forecast of the track. The results using PHYS improved by 28% and those based on SKEBS did by 7%. Both of the ensemble mean errors of the both schemes increased rapidly at the forecast time 84 hrs. The both ensemble spreads increased gradually during integration. The results based on SKEBS represented model errors very well during the forecast time of 96 hrs. After the period, it produced an under-dispersive pattern. The simulation based on PHYS overestimated the ensemble mean error during integration and represented the real situation well at the forecast time of 120 hrs. The displacement speed of the typhoon based on PHYS was closest to the best track, especially after landfall. In the sensitivity tests of the model uncertainty of SKEBS, ensemble mean forecast was sensitive to the physics parameterization. By adjusting the forcing parameter of SKEBS, the default experiment improved in the ensemble spread, ensemble mean errors, and moving speed.