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...

Full description

Bibliographic Details
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/ http://irep.iium.edu.my/46196/ 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

id	iium-46196
recordtype	eprints
spelling	iium-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 PeerReviewed 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
repository_type	Digital Repository
institution_category	Local University
institution	International Islamic University Malaysia
building	IIUM Repository
collection	Online Access
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/ http://irep.iium.edu.my/46196/ 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
first_indexed	2023-09-18T21:05:46Z
last_indexed	2023-09-18T21:05:46Z
_version_	1777410922549084160

Intelligent decision support systems for oil price forecasting

Similar Items