The sample size is a key element that affects the forecast performance, and it limits forecasting applicability under certain situations; although it is available to obtain a sufficient historical data set, it often differs from the growth of actual electricity consumption considerably. Electricity consumption data typically exhibit an increasing fluctuation trend, which is unsuitable for autoregressive moving average,exponential smoothing, and multiple linear regression models.Therefore, new forecasting models must be created for
limited samples and uncertain conditions [12]. Considering these problems, grey-based forecasting models have recently garnered much attention because they are especially suitable
for forecasting using uncertain and insufficient information [26].
The sample size is a key element that affects the forecast performance, and it limits forecasting applicability under certain situations; although it is available to obtain a sufficient historical data set, it often differs from the growth of actual electricity consumption considerably. Electricity consumption data typically exhibit an increasing fluctuation trend, which is unsuitable for autoregressive moving average,exponential smoothing, and multiple linear regression models.Therefore, new forecasting models must be created forlimited samples and uncertain conditions [12]. Considering these problems, grey-based forecasting models have recently garnered much attention because they are especially suitablefor forecasting using uncertain and insufficient information [26].
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