• Journal of Service Research and Studies
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• v.12 no.4
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• pp.82-93
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• 2022

The food service industry is a major driver of global sustainable food consumption. By understanding food consumption behavior, restaurant managers can forecast demands and reduce pre-consumer food waste. This study investigates the relationship between influencing factors and the number of customers at restaurants and cafés. These factors are weather-related factors, including rain and temperature, and school-related factors, including exams and the day of the week. Based on these four factors, 24 possible combinations were created. Three representtive days were chosen for each weekday combination. Besides, one representative day was chosen for each weekend combination. In total, 48 days were sampled throughout the year. Customer data were collected from six restaurants and cafes on a Korean university campus. Conjoint analysis was used to determine the relative importance of each variable to customer numbers. Following that, utility scores were standardized and mapped to determine the best condition when the number of customers was at its peak. In addition, each store's sales were compared using Pearson's Correlation Coefficient. The findings support that temperature and rain influences are correlated with the number of customers. Furthermore, we discovered that temperature was far more significant than rain in determining the number of customers. The paper discusses the implications of weather to forecast food and beverage demand and predict meal choices.

• Journal of the Ergonomics Society of Korea
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• v.26 no.1
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• pp.79-85
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• 2007

Demand forecasting methods for a consumer product such as TV or refrigerator are widely known. However, sales forecast for a brand new product cannot be estimated using conventional forecasting methods. This study proposes a five-step procedure in forecasting a newly developed product. Step one defines functions in a High Touch product in order to estimate relative attraction of the product to consumer group. In step two, for a comparison purpose, a compatible product that is successfully penetrated into market is selected. Step three breaks a target population into many segments based on demography. Step four calculates relative attraction between the High Touch product and the compatible product. Finally, market penetration rate of the High Touch product is estimated using a bell-shaped diffusion curve of the compatible product. The process offers a method to estimate potential demand and growth pattern of the new High Touch product.

• The Journal of Information Systems
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• v.27 no.3
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• pp.123-140
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• 2018

Purpose The purpose of this study is to explore the optimal trading frequency which is useful for stock price prediction by using deep learning for charting image data. We also want to identify the appropriate time for accurate forecasting of stock price when performing pattern analysis. Design/methodology/approach In order to find the optimal trading frequency patterns and forecast timings, this study is performed as follows. First, stock price data is collected using OpenAPI provided by Daishin Securities, and candle chart images are created by data frequency and forecasting time. Second, the patterns are generated by the charting images and the learning is performed using the CNN. Finally, we find the optimal trading frequency patterns and forecasting timings. Findings According to the experiment results, this study confirmed that when the 10 minute frequency data is judged to be a decline pattern at previous 1 tick, the accuracy of predicting the market frequency pattern at which the market decreasing is 76%, which is determined by the optimal frequency pattern. In addition, we confirmed that forecasting of the sales frequency pattern at previous 1 tick shows higher accuracy than previous 2 tick and 3 tick.

• Archives of design research
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• v.14 no.1
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• pp.93-101
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• 2001

This study suggested how to apply it decision-making of product development rapidly by design evaluation process to objectify and the result to quantify with viewpoint of design evaluation sets to marketability. Coverage of this method limited to the evaluation stage of design concept. The procedure of study, first of all, referred to some type of design evaluation method and their feature. And next, referred to some kinds of demand forecasting for marketing. Above an, this study focused on the method of demand forecasting by buying intentions surveys proper to the marketability evaluation of new product design. On a case study, I had investigated preference survey and buying intentions surveys about the design proposal of "language master audio". I selected the best design proposal through the conjoint analysis and also investigated demand forecasting. First, on the basis of buying intentions surveys, choose population and had produced buying demand, awareness demand, potential demand. I could estimate some profit to take out expense and cost from the buying demand. This estimated profit is marketability judgement data of product design at the design concept stage and can be utilized to measurable data for decision-making of product development. Through the case study, this method could forecast a target demand, and even if it is some difference between real sales volume, but the case study could verified that this method is effective to the evaluation of marketability in case of completely new product got on the typical category and the product category could be set up the population clearly.

• Environmental and Resource Economics Review
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• v.22 no.1
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• pp.3-29
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• 2013

The purpose of this study is to estimate consumer preferences on hybrid cars and electric cars by employing a choice experiment reflecting the various market conditions, such as different projected market shares of green vehicles and $CO_2$ emission regulations. Depending on different market scenarios, we examine as to which attribute and individual characteristic affect the preferences of potential consumers on green vehicles and further, forecast the potential market shares of green cars. The primary results, estimated by a conditional logit and panel probit models, indicate that sales price, fuel cost, maximum speed, emission of air pollutants, fuel economy, and distance between fuel stations can significantly affect consumer's choice of environment-friendly cars. The second finding is that the unique features of electric cars might better appeal to consumers as the market conditions for electric cars are improved. Third, education, age, and gender can significantly affect individual preferences. Finally, as the market conditions become more favorable toward green cars, the forecasted market shares of hybrid and electric vehicles will increase up to 67% and 14%.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.43 no.3
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• pp.61-67
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• 2020

The fourth industrial revolution encourages manufacturing industry to pursue a new paradigm shift to meet customers' diverse demands by managing the production process efficiently. However, it is not easy to manage efficiently a variety of tasks of all the processes including materials management, production management, process control, sales management, and inventory management. Especially, to set up an efficient production schedule and maintain appropriate inventory is crucial for tailored response to customers' needs. This paper deals with the optimized inventory policy in a steel company that produces granule products under supply contracts of three targeted on-time delivery rates. For efficient inventory management, products are classified into three groups A, B and C, and three differentiated production cycles and safety factors are assumed for the targeted on-time delivery rates of the groups. To derive the optimized inventory policy, we experimented eight cases of combined safety stock and data analysis methods in terms of key performance metrics such as mean inventory level and sold-out rate. Through simulation experiments based on real data we find that the proposed optimized inventory policy reduces inventory level by about 9%, and increases surplus production capacity rate, which is usually used for the production of products in Group C, from 43.4% to 46.3%, compared with the existing inventory policy.

• IE interfaces
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• v.18 no.2
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• pp.205-220
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• 2005

This study presents a web log analysis model for e-CRM, which combines the on-line customer's purchasing pattern data and transaction data between companies in B2B environment of make-to-order company. With this study, the customer evaluation and the customer subdivision are available. We can forecast the estimate demands with periodical products sales records. Also, the purchasing rate per each product, the purchasing intention rate, and the purchasing rate per companies can be used as the basic data for the strategy for receiving the orders in future. These measures are used to evaluate the business strategy, the quality ability on products, the customer's demands, the benefits of customer and the customer's loyalty. And it is used to evaluate the customer's purchasing patterns, the response analysis, the customer's secession rate, the earning rate, and the customer's needs. With this, we can satisfy various customers' demands, therefore, we can multiply the company's benefits. And we presents case of the 'H' company, which has the make-to-order manufacture environment, in order to verify the effect of the proposal system.

• Journal of Korean Society of Industrial and Systems Engineering
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• v.46 no.2
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• pp.152-159
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• 2023

Due to COVID-19, changes in consumption trends are taking place in the distribution sector, such as an increase in non-face-to-face consumption and a rapid growth in the online shopping market. However, it is difficult for small and medium-sized export sellers to obtain forecast information on the export market by country, compared to large distributors who can easily build a global sales network. This study is about the prediction of export amount and export volume by country and item for market information analysis of small and medium export sellers. A prediction model was developed using Lasso, XGBoost, and MLP models based on supervised learning and deep learning, and export trends for clothing, cosmetics, and household electronic devices were predicted for Korea's major export countries, the United States, China, and Vietnam. As a result of the prediction, the performance of MAE and RMSE for the Lasso model was excellent, and based on the development results, a market analysis system for small and medium sellers was developed.

• Journal of the Korean Institute of Illuminating and Electrical Installation Engineers
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• v.22 no.2
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• pp.63-70
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• 2008

This paper resents the spatial electric load forecasting algorithm using the multiple regression analysis method which is enhanced from the algorithm of the DISPLAN(Distribution Information System PLAN). In order to improve the accuracy of the spatial electrical load forecasting, input variables are selected for GRDP(Gross Regional Domestic Product), the local population and the electrical load sales of the past year. Tests are performed to analyze the accuracy of the proposed method for Gyeong-San City, Gu-Mi City, Gim-Cheon City and Yeong-Ju City of North Gyeongsang Province. Test results show that the overall accuracy of the proposed method is improved the percentage error 11.2[%] over 12[%] of the DISPLAN. Specially, the accuracy is enhanced a lot in the case of high variability of input variables. The proposed method will be used to forecast local electric loads for the optimal investment of distribution systems.

• Journal of the Korean Data and Information Science Society
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• v.28 no.2
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• pp.287-295
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• 2017

Since Google's AlphaGo defeated a world champion of Go players in 2016, there have been many interests in the deep learning. In the financial sector, a Robo-Advisor using deep learning gains a significant attention, which builds and manages portfolios of financial instruments for investors.In this paper, we have proposed the a deep learning algorithm geared toward identification and forecast of the KOSPI index direction,and we also have compared the accuracy of the prediction.In an application of forecasting the financial market index direction, we have shown that the Robo-Advisor using deep learning has a significant effect on finance industry. The Robo-Advisor collects a massive data such as earnings statements, news reports and regulatory filings, analyzes those and recommends investors how to view market trends and identify the best time to purchase financial assets. On the other hand, the Robo-Advisor allows businesses to learn more about their customers, develop better marketing strategies, increase sales and decrease costs.