A novel ranking procedure for forecasting approaches using Data Envelopment Analysis
نویسندگان
چکیده
Article history: Received 13 February 2016 Accepted 4 July 2016 Available online 5 August 2016 To compare the accuracy of different forecasting approaches an error measure is required. Many error measures have been proposed in the literature, however in practice there are some situations where different measures yield different decisions on forecasting approach selection and there is no agreement on which approach should be used. Generally forecasting measures represent ratios or percentages providing an overall image of how well fitted the forecasting technique is to the observations. This paper proposes a multiplicative Data Envelopment Analysis (DEA) model in order to rank several forecasting techniques. We demonstrate the proposed model by applying it to the set of yearly time series of the M3 competition. The usefulness of the proposed approach has been tested using theM3-competitionwherefive errormeasures have been applied in and aggregated to a single DEA score. © 2016 The Authors. Published by Elsevier Inc. This is an open access article under the CC BY license (http://creativecommons.org/licenses/by/4.0/).
منابع مشابه
A two phases approach for discriminating efficient candidate by using DEA inspired procedure
There are several methods to ranking DMUs in Data Envelopment Analysis (DEA) and candidates in voting system. This paper proposes a new two phases method based on DEA’s concepts. The first phase presents an aspiration rank for each candidate and second phase propose final ranking.
متن کاملSelection of Sustainable Supplier for Medical Centers with Data Envelopment Analysis (DEA) & Multi-Attributed Utility Theory (MAUT) Approaches
Background and Objectives: The selection of the sustainable supplier is important for any industry. Medical centers are not an exception in this case, and selecting the best sustainable supplier is a major step towards increasing their productivity. This paper, using the Data Envelopment Analysis and then using Multi-Attributed Utility Theory as a backup approach to fix errors, attempts t...
متن کاملThe Presentation of an Approach of Evaluation and Ranking in Data Envelopment Analysis with Interval Data: a Case Study in the Evaluation and Ranking of Iran’s Provinces in the Health and Treatment Sector
Today, in every society the health and treatment sector are among the most important service sectors. Therefore, it is crucial that their performance be evaluated and examined. Although the researchers have proposed many different approaches to evaluate and rank the health sectors, no precise approach for evaluating and ranking have been reported up to now. Assessing the coefficient of variatio...
متن کاملStock Evaluation under Mixed Uncertainties Using Robust DEA Model
Data Envelopment Analysis (DEA) is one of the popular and applicable techniques for assessing and ranking the stocks or other financial assets. It should be noted that in the financial markets, most of the times, the inputs and outputs of DEA models are accompanied by uncertainty. Accordingly, in this paper, a novel Robust Data Envelopment Analysis (RDEA) model, which is capable to be used in t...
متن کاملA New Method for Ranking Extreme Efficient DMUs Based on Changing the Reference Set with Using L2 - Norm
The purpose of this study is to utilize a new method for ranking extreme efficient decision making units (DMUs) based upon the omission of these efficient DMUs from reference set of inefficient and non-extreme efficient DMUs in data envelopment analysis (DEA) models with constant and variable returns to scale. In this method, an L2- norm is used and it is believed that it doesn't have any e...
متن کاملذخیره در منابع من
با ذخیره ی این منبع در منابع من، دسترسی به آن را برای استفاده های بعدی آسان تر کنید
عنوان ژورنال:
دوره شماره
صفحات -
تاریخ انتشار 2016