Quantitative Technology Forecasting: a Review of Trend Extrapolation Methods

Quantitative technology forecasting uses quantitative methods to understand and project technological changes. It is a broad field encompassing many different techniques and has been applied to a vast range of technologies. A widely used approach in this field is trend extrapolation. Based on the publications available to us, there has been little or no attempt made to systematically review the empirical evidence on quantitative trend extrapolation techniques. This study attempts to close this gap by conducting a systematic review of technology forecasting literature addressing the application of quantitative trend extrapolation techniques. We identified 25 studies relevant to the objective of this research and classified the techniques used in the studies into different categories, among which growth curves and time series methods were shown to remain popular over the past decade, while newer methods, such as machine learning-based hybrid models, have emerged in recent years. As more effort and evidence are needed to determine if hybrid models are superior to traditional methods, we expect to see a growing trend in the development and application of hybrid models to technology forecasting

Predictive Cost Analytics of Vehicle Assemblies Based on Machine Learning in the Automotive Industry

Due to the high pace of development in the automotive industry, there is a need for innovating cost engineering. A methodology for intelligent cost estimation in the early stages of the product life cycle is introduced. In a first step it is shown how significant economic and technical parameters for cost prediction can be prepared and filtered from historical calculation data. Subsequently, it is shown how cost prediction models can be developed using machine learning algorithms. Learning data and practical use cases come from a large automotive manufacturer in Germany. The models predict the costs of car parts and assemblies of increasing complexity. Seven different machine learning models are trained and optimized. Based on the test data of the use cases these models are assessed and compared. Finally, the prediction results obtained are evaluated from different perspectives, demonstrating the practical applicability of the most suitable methods explored

Artificial neural networks in forecasting tourists’ flow, an intelligent technique to help the economic development of tourism in Albania

Tourism plays an important role in many economies and contributes greatly to the Gross Domestic Product. In the past eight years, the number of tourist arrivals in Albania has increased rapidly, which resulted in increasing the number of tourist nights and revenue from tourism. Tourism also provides new sources of income for the country, without having that local citizen to pay more taxes. This can be achieved by income from parking, tourist taxes, leased apartments, sales information, etc. Early prediction on the tourist inflow mainly focuses on econometric models that have as a main feature the tourism demand being predicted by analysing factors that affect the tourists’ inflow. This approach results in being difficult, time-consuming and also expensive to determine econometric models. Traditional time series methods, such as exponential smoothing method, grey prediction method, linear regression method, ARIMA method etc., are more appropriate for the prediction of the tourist inflow. However, since they don’t apply a learning process on sample data, it is difficult for them to realize complicated and non-linear prediction on tourist inflow. The aim of this paper is to present the neural network usage in the tourists’ number forecasting and to determine the trends of the future tourist inflow, thus helping tourism management agencies in making scientific based financial decisions

Business analytics in industry 4.0: a systematic review

Recently, the term “Industry 4.0” has emerged to characterize several Information Technology and Communication (ICT) adoptions in production processes (e.g., Internet-of-Things, implementation of digital production support information technologies). Business Analytics is often used within the Industry 4.0, thus incorporating its data intelligence (e.g., statistical analysis, predictive modelling, optimization) expert system component. In this paper, we perform a Systematic Literature Review (SLR) on the usage of Business Analytics within the Industry 4.0 concept, covering a selection of 169 papers obtained from six major scientific publication sources from 2010 to March 2020. The selected papers were first classified in three major types, namely, Practical Application, Reviews and Framework Proposal. Then, we analysed with more detail the practical application studies which were further divided into three main categories of the Gartner analytical maturity model, Descriptive Analytics, Predictive Analytics and Prescriptive Analytics. In particular, we characterized the distinct analytics studies in terms of the industry application and data context used, impact (in terms of their Technology Readiness Level) and selected data modelling method. Our SLR analysis provides a mapping of how data-based Industry 4.0 expert systems are currently used, disclosing also research gaps and future research opportunities.The work of P. Cortez was supported by FCT - Fundação para a Ciência e Tecnologia within the R&D Units Project Scope: UIDB/00319/2020. We would like to thank to the three anonymous reviewers for their helpful suggestions

Grey Model Forecasting of Steel Material Price in Taiwan

The main purpose of this research is to use the Grey prediction model to construct a method to predict the price of steel in Taiwan as a reference for the manufacturing industry to use when raw material costs fluctuate greatly. The research results show that the cost forecast error rate is less than 3%, which has a high reference value. Therefore, the results of this study can be used as a reference for Taiwan\u27s manufacturing industry to establish cost control and procurement risk early warning

AN EMPIRICAL ANALYSIS OF AUTOMOTIVE MANUFACTURERS SUPPLY CHAIN PERFORMANCE IN CHINA

The research develops a framework for the evaluation of automotive supply chain performance in China. In addition, the research presents indications from a study of Chinese automotive companies with regards to their evaluation and attempts to propose some alternatives for future improvement

Improving Demand Forecasting: The Challenge of Forecasting Studies Comparability and a Novel Approach to Hierarchical Time Series Forecasting

Bedarfsprognosen sind in der Wirtschaft unerlässlich. Anhand des erwarteten Kundenbe-darfs bestimmen Firmen beispielsweise welche Produkte sie entwickeln, wie viele Fabri-ken sie bauen, wie viel Personal eingestellt wird oder wie viel Rohmaterial geordert wer-den muss. Fehleinschätzungen bei Bedarfsprognosen können schwerwiegende Auswir-kungen haben, zu Fehlentscheidungen führen, und im schlimmsten Fall den Bankrott einer Firma herbeiführen. Doch in vielen Fällen ist es komplex, den tatsächlichen Bedarf in der Zukunft zu antizipie-ren. Die Einflussfaktoren können vielfältig sein, beispielsweise makroökonomische Ent-wicklung, das Verhalten von Wettbewerbern oder technologische Entwicklungen. Selbst wenn alle Einflussfaktoren bekannt sind, sind die Zusammenhänge und Wechselwirkun-gen häufig nur schwer zu quantifizieren. Diese Dissertation trägt dazu bei, die Genauigkeit von Bedarfsprognosen zu verbessern. Im ersten Teil der Arbeit wird im Rahmen einer überfassenden Übersicht über das gesamte Spektrum der Anwendungsfelder von Bedarfsprognosen ein neuartiger Ansatz eingeführt, wie Studien zu Bedarfsprognosen systematisch verglichen werden können und am Bei-spiel von 116 aktuellen Studien angewandt. Die Vergleichbarkeit von Studien zu verbes-sern ist ein wesentlicher Beitrag zur aktuellen Forschung. Denn anders als bspw. in der Medizinforschung, gibt es für Bedarfsprognosen keine wesentlichen vergleichenden quan-titativen Meta-Studien. Der Grund dafür ist, dass empirische Studien für Bedarfsprognosen keine vereinheitlichte Beschreibung nutzen, um ihre Daten, Verfahren und Ergebnisse zu beschreiben. Wenn Studien hingegen durch systematische Beschreibung direkt miteinan-der verglichen werden können, ermöglicht das anderen Forschern besser zu analysieren, wie sich Variationen in Ansätzen auf die Prognosegüte auswirken – ohne die aufwändige Notwendigkeit, empirische Experimente erneut durchzuführen, die bereits in Studien beschrieben wurden. Diese Arbeit führt erstmals eine solche Systematik zur Beschreibung ein. Der weitere Teil dieser Arbeit behandelt Prognoseverfahren für intermittierende Zeitreihen, also Zeitreihen mit wesentlichem Anteil von Bedarfen gleich Null. Diese Art der Zeitreihen erfüllen die Anforderungen an Stetigkeit der meisten Prognoseverfahren nicht, weshalb gängige Verfahren häufig ungenügende Prognosegüte erreichen. Gleichwohl ist die Rele-vanz intermittierender Zeitreihen hoch – insbesondere Ersatzteile weisen dieses Bedarfs-muster typischerweise auf. Zunächst zeigt diese Arbeit in drei Studien auf, dass auch die getesteten Stand-der-Technik Machine Learning Ansätze bei einigen bekannten Datensät-zen keine generelle Verbesserung herbeiführen. Als wesentlichen Beitrag zur Forschung zeigt diese Arbeit im Weiteren ein neuartiges Verfahren auf: Der Similarity-based Time Series Forecasting (STSF) Ansatz nutzt ein Aggregation-Disaggregationsverfahren basie-rend auf einer selbst erzeugten Hierarchie statistischer Eigenschaften der Zeitreihen. In Zusammenhang mit dem STSF Ansatz können alle verfügbaren Prognosealgorithmen eingesetzt werden – durch die Aggregation wird die Stetigkeitsbedingung erfüllt. In Expe-rimenten an insgesamt sieben öffentlich bekannten Datensätzen und einem proprietären Datensatz zeigt die Arbeit auf, dass die Prognosegüte (gemessen anhand des Root Mean Square Error RMSE) statistisch signifikant um 1-5% im Schnitt gegenüber dem gleichen Verfahren ohne Einsatz von STSF verbessert werden kann. Somit führt das Verfahren eine wesentliche Verbesserung der Prognosegüte herbei. Zusammengefasst trägt diese Dissertation zum aktuellen Stand der Forschung durch die zuvor genannten Verfahren wesentlich bei. Das vorgeschlagene Verfahren zur Standardi-sierung empirischer Studien beschleunigt den Fortschritt der Forschung, da sie verglei-chende Studien ermöglicht. Und mit dem STSF Verfahren steht ein Ansatz bereit, der zuverlässig die Prognosegüte verbessert, und dabei flexibel mit verschiedenen Arten von Prognosealgorithmen einsetzbar ist. Nach dem Erkenntnisstand der umfassenden Literatur-recherche sind keine vergleichbaren Ansätze bislang beschrieben worden

Research on the Comparison between the Different Policies by Service Level and Inventory Level Performance of Auto Parts in N.A.C.C. (North Automobile Components Company)

As after sales services become more and more popular, particularly preventive or corrective maintenance, the intervention and repair of the customer’s goods in a timely and efficient manner ensure customer satisfaction and contribute to the establishment of brand image in the market of the suppliers. The availability and quality of spare parts are key elements of this strategy while ensuring minimal management costs. The reuse of spare parts retrieved from customer systems is a growing maintenance strategy practice which impacts the traditional spare parts supply chain. This reuse is primarily driven by extending the economic life of goods, initially regarded as waste and therefore without added value, by transforming them into valuable spare parts that can be reused; secondly, for environmental or regulatory reasons, demanding responsibility for the treatment of products at the end of their life; and thirdly, to improve the availability of parts for maintenance, especially parts that the organization can no longer purchase or that are impacted by other issues. It also involves the analysis of their condition and their eventual return to working order as they are retrieved from the customer’s systems in a defective condition. In this paper, we will identify and classify the different customers and spare parts by estimating the critical level of rationing policy based on forecasts, identify the thresholds of inventory management policies, and finally, compare the different policies by service level and inventory level performance for the N.A.C.C. company

Patterns of mobility in a smart city

Transportation data in smart cities is becoming increasingly available. This data allows building meaningful, intelligent solutions for city residents and city management authorities, the so-called Intelligent Transportation Systems. Our research focused on Lisbon mobility data, provided by Lisbon municipality. The main research objective was to address mobility problems, interdependence, and cascading effects solutions for the city of Lisbon. We developed a data-driven approach based on historical data with a strong focus on visualization methods and dashboard creation. Also, we applied a method based on time series to do prediction based on the traffic congestion data provided. A CRISP-DM approach was applied, integrating different data sources, using Python. Hence, understand traffic patterns, and help the city authorities in the decision-making process, namely more preparedness, adaptability, responsiveness to events.Os dados de transporte, no âmbito das cidades inteligentes, estão cada vez mais disponíveis. Estes dados permitem a construção de soluções inteligentes com impacto significativo na vida dos residentes e nos mecanismos das autoridades de gestão da cidade, os chamados Sistemas de Transporte Inteligentes. A nossa investigação incidiu sobre os dados de mobilidade urbana da cidade de Lisboa, disponibilizados pelo município. O principal objetivo da pesquisa foi abordar os problemas de mobilidade, interdependência e soluções de efeitos em cascata para a cidade de Lisboa. Para alcançar este objetivo foi desenvolvida uma metodologia baseada nos dados históricos do transito no centro urbano da cidade e principais acessos, com uma forte componente de visualização. Foi também aplicado um método baseado em series temporais para fazer a previsão das ocorrências de transito na cidade de Lisboa. Foi aplicada uma abordagem CRISP-DM, integrando diferentes fontes de dados, utilizando Python. Esta tese tem como objetivo identificar padrões de mobilidade urbana com análise e visualização de dados, de forma a auxiliar as autoridades municipais no processo de tomada de decisão, nomeadamente estar mais preparada, adaptada e responsiva