Forecast of the informatization index of China from 2011 to 2015 using the Grey forecasting model

Abstract

Informatization is very important to the social economy and is obtaining more and more significance in globalization and social transformation. This article applies the Grey forecasting GM(1,1) model from Grey theory to forecast accurately the informatization index of China and other countries from 2013 to 2020 and makes comparison between them. The results show that the average residual error of the Grey forecasting model is lower than 10%. They further show that the Grey forecasting model exhibits high prediction accuracy. Clearly, the Grey forecasting model is a viable means of accurately forecasting the value of informatization index. The findings offer a valuable reference for governments in drafting relevant policies for the informatization.