• Journal of Electrical Engineering and Technology
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• v.13 no.4
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• pp.1504-1514
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• 2018

The objective of this study is to compare the suitability of a non-parametric and 3 parametric distributions in the characterization of prediction intervals of photovoltaic power forecasts with high confidence levels. The prediction intervals of the forecasts are calculated using a method based on recent past data similar to the target forecast input data, and on a distribution assumption for the forecast error. To compare the suitability of the distributions, prediction intervals were calculated using the proposed method and each of the 4 distributions. The calculations were done for one year of day-ahead forecasts of hourly power generation of 432 PV systems. The systems have different sizes and specifications, and are installed in different locations in Japan. The results show that, in general, the non-parametric distribution assumption for the forecast error yielded the best prediction intervals. For example, with a confidence level of 85% the use of the non-parametric distribution assumption yielded a median annual forecast error coverage of 86.9%. This result was close to the one obtained with the Laplacian distribution assumption (87.8% of coverage for the same confidence level). Contrasting with that, using a Gaussian and Hyperbolic distributions yielded median annual forecast error coverage of 89.5% and 90.5%.

• Journal of the Korea Convergence Society
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• v.10 no.9
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• pp.199-207
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• 2019

This study aims to analyze the profitability of Robo-Advisors portfolio combined with the analysts' forecasts on the Korean stock prices. Sample stocks are 8 blue-chips and sample period is from 2003 to 2019. Robo-Advisor portfolio was suggested using the Black-Litterman model combined with the analysts' forecasts and its profitability was analyzed. Empirical result showed the suggested Robo-Advisor algorithm produced 1% annual excess return more than that of the benchmark. The study documented that the analysts' forecasts had an economic value when applied in the Robo-Advisor portfolio despite the prevalent blames from investors. The profitability on small or medium-sized stocks will need to be analyzed in the Robo-Advisor context because their information is relatively less known to investors and as such is expected to be strongly influenced by the analysts' forecasts.

• Atmosphere
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• v.31 no.1
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• pp.85-100
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• 2021

The necessity of accurate high-resolution meteorological forecasts becomes increasing in socio-economical applications and disaster risk management. The Korea Meteorological Administration Post-Processing (KMAPP) system has been operated to provide high-resolution meteorological forecasts of 100 m over the South Korea region. This study evaluates and improves the KMAPP performance in simulating wind speeds over complex terrain areas using the ICE-POP 2018 field campaign measurements. The mountainous measurements give a unique opportunity to evaluate the operational wind speed forecasts over the complex terrain area. The one-month wintertime forecasts revealed that the operational Local Data Assimilation and Prediction System (LDAPS) has systematic errors over the complex mountainous area, especially in deep valley areas, due to the orographic smoothing effect. The KMAPP reproduced the orographic height variation over the complex terrain area but failed to reduce the wind speed forecast errors of the LDAPS model. It even showed unreasonable values (~0.1 m s-1) for deep valley sites due to topographic overcorrection. The model's static parameters have been revised and applied to the KMAPP-Wind system, developed newly in this study, to represent the local topographic characteristics better over the region. Besides, sensitivity tests were conducted to investigate the effects of the model's physical correction methods. The KMAPP-Wind system showed better performance in predicting near-surface wind speed during the ICE-POP period than the original KMAPP version, reducing the forecast error by 21.2%. It suggests that a realistic representation of the topographic parameters is a prerequisite for the physical downscaling of near-ground wind speed over complex terrain areas.

• Atmosphere
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• v.31 no.5
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• pp.473-488
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• 2021

A new physical/statistical diagnostic downscale model has been developed for use to improve near-surface air temperature forecasts. The model includes a series of physical and statistical correction methods that account for un-resolved topographic and land-use effects as well as statistical bias errors in a low-resolution atmospheric model. Operational temperature forecasts of the Local Data Assimilation and Prediction System (LDAPS) were downscaled at 100 m resolution for three months, which were used to validate the model's physical and statistical correction methods and to compare its performance with the forecasts of the Korea Meteorological Administration Post-processing (KMAP) system. The validation results showed positive impacts of the un-resolved topographic and urban effects (topographic height correction, valley cold air pool effect, mountain internal boundary layer formation effect, urban land-use effect) in complex terrain areas. In addition, the statistical bias correction of the LDAPS model were efficient in reducing forecast errors of the near-surface temperatures. The new high-resolution downscale model showed better agreement against Korean 584 meteorological monitoring stations than the KMAP, supporting the importance of the new physical and statistical correction methods. The new physical/statistical diagnostic downscale model can be a useful tool in improving near-surface temperature forecasts and diagnostics over complex terrain areas.

• KNOM Review
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• v.22 no.3
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• pp.25-30
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• 2019

For meteorological applications, meaningful results must be derived and provided within time and resource limits. Forecasts through numerous historical data are time-consuming and still have resource limitations in the case of disaster safety-related analyses/predictions such as local typhoon forecasts. Suitable forecasts should be provided without any problems caused by limited physical environmental conditions and when results are to be drawn under time constraints, such as typhoon forecasts and forecast services for flooded areas by road. In this paper, we analyze the application of weather and climate forecasting to provide a suitable forecasting service in both temporal and resource conditions. Through the analysis of execution time according to mesh sizes, it was confirmed that a mesh adjustment can cope with the case of the temporal constraint. In addition, by analyzing the execution time through memory resource control, we confirmed the minimum resource condition that does not affect the performance and the resource usage pattern of the application through the swap and mlock analysis.

• Korean Business Review
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• v.20 no.2
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• pp.47-60
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• 2007

The purpose of this study is to investigate the beyond budgeting model at Borealis Group. This company have succeed in beyond budgeting by rolling financial forecasts, balanced scorecard, Activity-based costing, and decentralized investment management. As study finding of this paper, proposed following items to domestic enterprises. The first, improvement of plan function of budgeting by rolling financial forecasts. the second, strategy and budget more than strong link by balanced scorecard. the third resource's strategic arrangement and efficient use. the fourth competitive advantage strategies associated with relative performance evaluation, the fifth, compensation public ownership by relative performance.

• The Plant Pathology Journal
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• v.21 no.2
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• pp.111-118
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• 2005

Weather data for disease forecasts are usually derived from automated weather stations (AWS) that may be dispersed across a region in an irregular pattern. We have developed an alternative method to simulate local scale, high-resolution weather and plant disease in a grid pattern. The system incorporates a simplified mesoscale boundary layer model, LAWSS, for estimating local conditions such as air temperature and relative humidity. It also integrates special models for estimating of surface wetness duration and disease forecasts, such as the grapevine downy mildew forecast model, DMCast. The system can recreate weather forecasts utilizing the NCEP/NCAR reanalysis database, which contains over 57 years of archived and corrected global upper air conditions. The highest horizontal resolution of 0.150 km was achieved by running 5-step nested child grids inside coarse mother grids. Over the Finger Lakes and Chautauqua Lake regions of New York State, the system simulated three growing seasons for estimating the risk of grape downy mildew with 1 km resolution. Outputs were represented as regional maps or as site-specific graphs. The highest resolutions were achieved over North America, but the system is functional for any global location. The system is expected to be a powerful tool for site selection and reanalysis of historical plant disease epidemics.

• Korean Management Science Review
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• v.32 no.4
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• pp.97-108
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• 2015

This study proposes a mathematical model to estimate the economic value of weather forecast service, among which the precipitation forecast service is focused. The value is calculated in terms of users' satisfaction or dissatisfaction resulted from the users' decisions made by using the precipitation probabilistic forecasts and thresholds. The satisfaction values can be quantified by the traditional value score model, which shows the scaled utility values relative to the perfect forecast information. This paper extends the value score concept to a collective value score model which is defined as a weighted sum of users' satisfaction based on threshold distribution in a group of the users. The proposed collective value score model is applied to the picnic scenario by using four hypothetical sets of probabilistic forecasts, i.e., under-confident, over-confident, under-forecast and over-forecast. The application results show that under-confident type of forecasts outperforms the others as a measure of the maximum collective value regardless of users' dissatisfaction patterns caused by two types of forecast errors, e.g., miss and false alarm.

• Journal of The Korean Society of Agricultural Engineers
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• v.58 no.5
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• pp.91-99
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• 2016

High resolution rainfall data at 1-hour or a finer scale are essential for reliable flood analysis and forecasting; nevertheless, many observations, forecasts, and climate projections are still given at coarse temporal resolutions. This study aims to evaluate a chaotic method for disaggregation of 6-hour rainfall data sets so as to apply operational 6-hour rainfall forecasts of the Korean Meteorological Association to flood models. We computed parameters of a state-of-the-art multiplicative random cascade model with two combinations of cascades, namely uniform splitting and diversion, using rainfall observations at Seoul station, and compared statistical performance. We additionally disaggregated 6-hour rainfall time series at 58 stations with the uniform splitting and evaluated temporal transferability of the parameters and changes in multifractal properties. Results showed that the uniform splitting outperformed the diversion in reproduction of observed statistics, and hence is better to be used for disaggregation of 6-hour rainfall forecasts. We also found that multifractal properties of rainfall observations has adequate temporal consistency with an indication of gradually increasing rainfall intensity across South Korea.

• Journal of Technology Innovation
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• v.17 no.1
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• pp.97-117
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• 2009

The Delphi is a popular technique for forecasting based on the opinions of experts. It is important to know how valid and reliable the technique is. In this paper, we analyze accuracy and precision of the Delphi in IT and BT of Korea, and also discuss the relationship between them. As a result of the analysis, the accuracy and precision of the forecasts partly have significant differences according to their area and degree of expertise. Besides, significant correlation between the accuracy and precision of forecasts with high expertise is found. The result indicates that the precision of forecasts can be a criterion of the accuracy of them.