Introduction of time series data analysis using grey system theory

Abstract

We consider an application of the grey system theory to the time series data forecasting problem, called grey forecasting, where grey implies incomplete or uncertain, and grey system describes a system lacking information about structure messages, operation mechanism and/or behavior documents. In a case of bad data lacking information, the grey forecasting method is known to be effective in time series data analysis. We present the design of grey forecasting model, and compare it with the conventional method.