• Journal of Korean Society of Transportation
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• v.31 no.3
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• pp.3-18
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• 2013

This study develops a forecasting method to estimate air cargo demand from ICN(Incheon International Airport) to all airports in EU with Seasonal Autoregressive Integrated Moving Average (SARIMA) Model using volumes from the first quarter of 2000 to the fourth quarter of 2009. This paper shows the superiority of SARIMA Model by comparing the forecasting accuracy of SARIMA with that of other ARIMA (Autoregressive Integrated Moving Average) models. Given that very few papers and researches focuses on air route, this paper will be helpful to researchers concerned with air cargo.

• Journal of the Korea Academia-Industrial cooperation Society
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• v.16 no.10
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• pp.6860-6868
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• 2015

In this study, we consider a problem of forecasting daily city gas demand of Korea. Forecasting daily gas demand is a daily routine for gas provider, and gas demand needs to be forecasted accurately in order to guarantee secure gas supply. In this study, we analyze the time series of city gas demand in several ways. Data analysis shows that primary factors affecting the city gas demand include the demand of previous day, temperature, day of week, and so on. Incorporating these factors, we developed a multiple linear regression model. Also, we devised a sampling procedure that selectively collects the past data considering the characteristics of the city gas demand. Test results on real data exhibit that the MAPE (Mean Absolute Percentage Error) obtained by the proposed method is about 2.22%, which amounts to 7% of the relative improvement ratio when compared with the existing method in the literature.

• Journal of the Korea Society of Computer and Information
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• v.29 no.10
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• pp.121-128
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• 2024

Demand forecasting is a critical element of revenue management in the tourism industry. Since the 2010s, with the globalization of the tourism industry and the increase of different forms of marketing and information sharing, such as SNS, forecasting has become difficult due to non-linear activities and unstructured information. Various forecasting models for resolving the problems have been studied, and ML models have been used effectively. In this study, we applied the feature selection technique (NSGA3) to time series models and compared their performance. In hotel demand forecasting, it was found that the TCN model has a high forecasting performance of MAPE 9.73% with a performance improvement of 7.05% compared to no feature selection. The results of this study are expected to be useful for decision support through improved forecasting performance.

• Communications for Statistical Applications and Methods
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• v.22 no.6
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• pp.675-683
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• 2015

In the 21st century, we now face the serious problems of the enormous consumption of the energy resources. Depending on the power consumption increases, both China and South Korea face a reduction in available resources. This paper considers the regression models and time-series models to compare the performance of the forecasting accuracy based on Mean Absolute Percentage Error (MAPE) in order to forecast the electricity demand accurately on the short-term period (68 months) data in Northeast China and find the relationship with Korea. Among the models the support vector regression (SVR) model shows superior performance than time-series models for the short-term period data and the time-series models show similar results with the SVR model when we use long-term period data.

• Journal of Navigation and Port Research
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• v.42 no.5
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• pp.341-346
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• 2018

Supramax bulk carriers cover a wide range of ocean transportation requirements, from major to minor bulk cargoes. Market forecasting for this segment has posed a challenge to researchers, due to complexity involved, on the demand side of the forecasting model. This paper addresses this issue by using technical indicators as input features, instead of complicated supply-demand variables. Artificial neural networks (ANN), one of the most popular machine-learning tools, were used to replace classical time-series models. Results revealed that ANN outperformed the benchmark binomial logistic regression model, and predicted direction of the spot market with more than 70% accuracy. Results obtained in this paper, can enable chartering desks to make better short-term chartering decisions.

• KSII Transactions on Internet and Information Systems (TIIS)
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• v.7 no.11
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• pp.2676-2689
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• 2013

Due to increased consumption of energy in the building environment, the building energy management systems (BEMS) solution has been developed to achieve energy saving and efficiency. However, because of the shortage of building energy management specialists and incompatibility among the energy management systems of different vendors, the BEMS solution can only be applied to limited buildings individually. To solve these problems, we propose a building cluster based remote energy monitoring and management (EMM) system and its functionalities and roles of each sub-system to simultaneously manage the energy problems of several buildings. We also introduce a novel energy demand forecasting algorithm by using past energy consumption data. Extensive performance evaluation study shows that the proposed regression based energy demand forecasting model is well fitted to the actual energy consumption model, and it also outperforms the artificial neural network (ANN) based forecasting model.

• The Journal of Society for e-Business Studies
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• v.17 no.2
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• pp.63-72
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• 2012

The Korean telecommunications market has been expanding swiftly, these days, to be saturated. In this environment, the upcoming mobile telecommunication market, where 4G service was introduced this year, is becoming more substitutive and competitive. Thus, the demand forecasting of 4G service is very difficult, while it is critical to market success. This paper adopts a multi-generation diffusion model to capture the diffusion and substitution patterns for two successive generation of technological services, i.e., 3G and 4G mobile telecommunications services. The three parameters, i.e., the coefficient of innovation, the coefficient of imitation, and the coefficient of market potential, used in the multi-generation diffusion model based on Norton and Bass[11] are obtained by inference from similar substitutive relations between older and newer telecommunication services to 3G and 4G services. The simulation results show that the Bass type multi-generation model can be successfully applied to the demand forecasting of newly introduced 4G mobile telecommunication service.

• Asia-Pacific Journal of Business
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• v.15 no.1
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• pp.319-334
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• 2024

Purpose - The purpose of this study is to examine the gravity model commonly used for demand forecasting upon the implementation of new tourist facilities and analyze the main causation of forecasting errors to provide a suggestion on how to improve. Design/methodology/approach - This study first measured the errors in predicted values derived from past feasibility study reports by examining the cases of five national science museums. Next, to improve the predictive accuracy of the gravity model, the study identified the five most likely issues contributing to errors, applied modified values, and recalculated. The potential for improvement was then evaluated through a comparison of forecasting errors. Findings - First, among the five science museums with very similar characteristics, there was no clear indication of a decrease in the number of visitors to existing facilities due to the introduction of new facilities. Second, representing the attractiveness of tourist facilities using the facility size ratio can lead to significant prediction errors. Third, the impact of distance on demand can vary depending on the characteristics of the facility and the conditions of the area where the facility is located. Fourth, if the distance value is below 1, it is necessary to limit the range of that value to avoid having an excessively small value. Fifth, depending on the type of population data used, prediction results may vary, so it is necessary to use population data suitable for each latent market instead of simply using overall population data. Finally, if a clear trend is anticipated in a certain type of tourist behavior, incorporating this trend into the predicted values could help reduce prediction errors. Research implications or Originality - This study identified the key factors causing prediction errors by using national science museums as cases and proposed directions for improvement. Additionally, suggestions were made to apply the model more flexibly to enhance predictive accuracy. Since reducing prediction errors contributes to increased reliability of analytical results, the findings of this study are expected to contribute to policy decisions handled with more accurate information when running feasibility analyses.

• Environmental and Resource Economics Review
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• v.28 no.3
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• pp.437-465
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• 2019

In this study, we propose a new method to forecast long-term energy demand in Korea. Based on Chang et al. (2016), which models the time varying long-run relationship between electricity demand and GDP with a function coefficient panel model, we design several schemes to retain objectivity of the forecasting model. First, we select the bandwidth parameters for the income coefficient based on the out-of-sample forecasting performance. Second, we extend the income coefficient using the functional principal component analysis method. Third, we proposed a method to reflect the elasticity change patterns inherent in Korea. In the empirical analysis part, we forecasts the long-term energy demand in Korea using the proposed method to show that the proposed method generates more stable long term forecasts than the existing methods.

• Journal of Advanced Navigation Technology
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• v.28 no.4
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• pp.472-479
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• 2024

Half of the world's total population lives in cities, continuous urbanization is progressing, and the urban population is expected to exceed two-thirds of the total population by 2050. To resolve this phenomenon, the Korean government is focusing on building a new urban air mobility (UAM) industrial ecosystem. Airlines are also part of the UAM industry ecosystem and are preparing to improve efficiency in safe operations, passenger safety, aircraft operation efficiency, and punctuality. This study performs demand forecasting using time series data on the number of daily passengers on Korean Air's Gimpo to Jeju route from 2019 to 2023. For this purpose, statistical and machine learning models such as SARIMA, Prophet, CatBoost, and Random Forest are applied. Methods for effectively capturing passenger demand patterns were evaluated through various models, and the machine learning-based Random Forest model showed the best prediction results. The research results will present an optimal model for accurate demand forecasting in the aviation industry and provide basic information needed for operational planning and resource allocation.