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Intelligent decision support systems for oil price forecasting

This research studies the application of hybrid algorithms for predicting the prices of crude oil. Brent crude oil price data and hybrid intelligent algorithm (time delay neural network, probabilistic neural network, and fuzzy logic) were used to build intelligent decision support systems for predic...

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Main Authors: Chiroma, Haruna, Zavareh, Adeleh Asemi, Baba, Mohd Sapiyan, Ibrahim, Adamu Abubakar, Gital, Abdulsam Ya'u, Zambuk, Fatima Umar
Format: Article
Language:English
English
Published: The Interntaional Journal of Information Science and Management 2015
Subjects:
Q350 Information theory
Online Access:http://irep.iium.edu.my/46196/1/IJISM.pdf
http://irep.iium.edu.my/46196/4/46196_Intelligent%20decision%20support%20systems%20for%20oil%20price%20forecasting_SCOPUS.pdf
http://irep.iium.edu.my/46196/
http://ijism.ricest.ac.ir/index.php/ijism/article/view/671
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spelling my.iium.irep.461962017-11-27T09:42:17Z http://irep.iium.edu.my/46196/ Intelligent decision support systems for oil price forecasting Chiroma, Haruna Zavareh, Adeleh Asemi Baba, Mohd Sapiyan Ibrahim, Adamu Abubakar Gital, Abdulsam Ya'u Zambuk, Fatima Umar Q350 Information theory This research studies the application of hybrid algorithms for predicting the prices of crude oil. Brent crude oil price data and hybrid intelligent algorithm (time delay neural network, probabilistic neural network, and fuzzy logic) were used to build intelligent decision support systems for predicting crude oil prices. The proposed model was able to predict future crude oil prices from August 2013 to July 2014. Future prices can guide decision makers in economic planning and taking effective measures to tackle the negative impact of crude oil price volatility. Energy demand and supply projection can effectively be tackled with accurate forecasts of crude oil prices, which in turn can create stability in the oil market. The future crude oil prices predict by the intelligent decision support systems can be used by both government and international organizations related to crude oil such as organization of petroleum exporting countries (OPEC) for policy formulation in the next one year. The Interntaional Journal of Information Science and Management 2015-04 Article REM application/pdf en http://irep.iium.edu.my/46196/1/IJISM.pdf application/pdf en http://irep.iium.edu.my/46196/4/46196_Intelligent%20decision%20support%20systems%20for%20oil%20price%20forecasting_SCOPUS.pdf Chiroma, Haruna and Zavareh, Adeleh Asemi and Baba, Mohd Sapiyan and Ibrahim, Adamu Abubakar and Gital, Abdulsam Ya'u and Zambuk, Fatima Umar (2015) Intelligent decision support systems for oil price forecasting. International Journal of Information Science and Management (IJISM), Spec.. pp. 47-59. ISSN 2008-8310 http://ijism.ricest.ac.ir/index.php/ijism/article/view/671
institution Universiti Islam Antarabangsa Malaysia
building IIUM Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider International Islamic University Malaysia
content_source IIUM Repository (IREP)
url_provider http://irep.iium.edu.my/
language English
English
topic Q350 Information theory
spellingShingle Q350 Information theory
Chiroma, Haruna
Zavareh, Adeleh Asemi
Baba, Mohd Sapiyan
Ibrahim, Adamu Abubakar
Gital, Abdulsam Ya'u
Zambuk, Fatima Umar
Intelligent decision support systems for oil price forecasting
description This research studies the application of hybrid algorithms for predicting the prices of crude oil. Brent crude oil price data and hybrid intelligent algorithm (time delay neural network, probabilistic neural network, and fuzzy logic) were used to build intelligent decision support systems for predicting crude oil prices. The proposed model was able to predict future crude oil prices from August 2013 to July 2014. Future prices can guide decision makers in economic planning and taking effective measures to tackle the negative impact of crude oil price volatility. Energy demand and supply projection can effectively be tackled with accurate forecasts of crude oil prices, which in turn can create stability in the oil market. The future crude oil prices predict by the intelligent decision support systems can be used by both government and international organizations related to crude oil such as organization of petroleum exporting countries (OPEC) for policy formulation in the next one year.
format Article
author Chiroma, Haruna
Zavareh, Adeleh Asemi
Baba, Mohd Sapiyan
Ibrahim, Adamu Abubakar
Gital, Abdulsam Ya'u
Zambuk, Fatima Umar
author_facet Chiroma, Haruna
Zavareh, Adeleh Asemi
Baba, Mohd Sapiyan
Ibrahim, Adamu Abubakar
Gital, Abdulsam Ya'u
Zambuk, Fatima Umar
author_sort Chiroma, Haruna
title Intelligent decision support systems for oil price forecasting
title_short Intelligent decision support systems for oil price forecasting
title_full Intelligent decision support systems for oil price forecasting
title_fullStr Intelligent decision support systems for oil price forecasting
title_full_unstemmed Intelligent decision support systems for oil price forecasting
title_sort intelligent decision support systems for oil price forecasting
publisher The Interntaional Journal of Information Science and Management
publishDate 2015
url http://irep.iium.edu.my/46196/1/IJISM.pdf
http://irep.iium.edu.my/46196/4/46196_Intelligent%20decision%20support%20systems%20for%20oil%20price%20forecasting_SCOPUS.pdf
http://irep.iium.edu.my/46196/
http://ijism.ricest.ac.ir/index.php/ijism/article/view/671
_version_ 1643612943851454464
score 13.250246

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