Forecasting Models/ Time Series
davood darvishi; Mostafa Nori joybari; parvin babaei
Abstract
Purpose: Covid-19 virus is a major threat to the health and safety of people around the world. One of the key components in dealing with this global threat is rapid and timely decision-making to control the epidemic of the disease, so predicting the future trend of this disease in the world, including ...
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Purpose: Covid-19 virus is a major threat to the health and safety of people around the world. One of the key components in dealing with this global threat is rapid and timely decision-making to control the epidemic of the disease, so predicting the future trend of this disease in the world, including predicting deaths, can be useful for policy-making, management and control of its prevalence. Therefore, the mortality rate caused by this virus has been predicted with grey models in the world.Methodology: This study examines the process of predicting mortality rates in the world using the theory of grey systems models. Research data were collected from the World Health Organization website and predicted the number of deaths in the world on a monthly basis by five methods: GM (1, 1), Verhulst Grey, DGM (1, 1), NGBM (1, 1) and FNGBM(1, 1). In order to evaluate the error of the models, the common error evaluation criteria MAE, RMSE and MAPE were used.Findings: By evaluating the model error, the prediction of the F-NGBM model (1, 1) in the category of excellent models, the prediction values of the GreyVerhulst model are in the category of acceptable predictions and the rest of the models are in the category of good predictions. Also, the F-NGBM (1, 1) model with MAE, RMSE and MAPE error values of 26989.54, 21533.94 and 7.21, respectively, is the most suitable model compared to the other methods. An estimated 250,958 deaths are estimated by the F-NGBM (1.1) model by the end of 2021, which may be the most appropriate value among forecasting methods.Originality/Value: Due to the lack of historical data and also a lot of uncertainty in the available data, it is necessary to use approaches to dealing with uncertainty such as the grey system theory in predicting the mortality rate of this disease. Various grey predictions estimate the mortality rate, which requires relatively less data than existing methods, and the model error is much lower. The study also looked at the worldwide mortality rate and will be more comprehensive on integrated global action.