Published 2011
“…While quantitative technique is based on statistical concepts and requires large amount of data in order to formulate the mathematical
models.This technique can be classified into projective and causal technique.The projective technique (or univariate
modelling) just involve one variable while the causal technique (or econometric
modelling) suitable for multi-variables.Since forecasting involves uncertainty, several methods need to be executed on one set of time series data in order to produce accurate forecast.Hence, usually in practice forecaster need to use several softwares to obtain the forecast values.If this practice can be
transformed into
algorithm (well-defined rules for solving a problem) and then the
algorithm can be
transformed into a computer program, less time will be needed to compute the forecast values where in business world time is money.In this study, we focused on
algorithm development for univariate forecasting techniques only and will expand towards econometric
modelling in the future.Two set of simulated data (yearly and non-yearly) and several univariate forecasting techniques (i.e. …”
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Monograph
