2021
DOI: 10.52812/ijgs.24
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Demand Forecasting of Toyota Avanza Cars in Indonesia: Grey Systems Approach

Abstract: Toyota Avanza car is a popular four-wheeler among Indonesia middle-class customers. The current study aims to forecast the demand for Toyota Avanza cars in Indonesia in the next six years using the grey forecasting model EGM (1,1, α, θ). The comparative analysis of the results obtained from the grey model with those of Linear Regression, Exponential Regression, and Exponential Triple Smoothing techniques revealed the superiority of the grey model as it produced most accurate forecasts. The accuracy was measure… Show more

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Cited by 12 publications
(6 citation statements)
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“…In the 1980s, a Chinese Professor at Huazhong University of Science and Technology, Deng (1982) 59 proposed Grey System Theory to capture the trend of systems development while focusing on insufficient knowledge and uncertainty. [60][61][62] Later, Professors Sifeng Liu, S. A. Javed, and others helped it popularize in the world, and today it has become one of the fastest-growing research fields. Javed introduced the grey system theory to Pakistan which was successfully applied in healthcare, 63 project management 64 and manufacturing.…”
Section: Grey Relational Analysismentioning
confidence: 99%
“…In the 1980s, a Chinese Professor at Huazhong University of Science and Technology, Deng (1982) 59 proposed Grey System Theory to capture the trend of systems development while focusing on insufficient knowledge and uncertainty. [60][61][62] Later, Professors Sifeng Liu, S. A. Javed, and others helped it popularize in the world, and today it has become one of the fastest-growing research fields. Javed introduced the grey system theory to Pakistan which was successfully applied in healthcare, 63 project management 64 and manufacturing.…”
Section: Grey Relational Analysismentioning
confidence: 99%
“…In Eqs. ( 23) and (24), CF is the random vector with Lévy distribution and CF 1 − Iter Max_ Iter 2Iter Max_ Iter (25) is the adaptive parameter to control the movement step of the predator, and the other parameters have the same meaning as above. At the end of the iteration, when the predator speed is slower than the prey speed, the predator adopts an exploitation strategy based on Lévy wandering.…”
Section: Optimization Of Hyperparametersmentioning
confidence: 99%
“…Taking into account data availability and volatility, this paper selects the grey modeling technique as the optimal forecasting model for accurately forecasting China's petroleum consumption. In the past decades, grey prediction model has been widely used in various fields such as energy [17][18][19][20][21], environment [22], COVID-19 [23], tourism [24], automobile industry [25], and economics [26]. Due to its wide application range, a variety of derivative forms have been developed from the following aspects.…”
Section: Introductionmentioning
confidence: 99%
“…Thus, the adequate level of consumer expectation is supported to be dynamic and more changing than their desired service expectations (Parasuraman et al, 1991). As a result, it can be seen that consumer empowerment is beneficial to the consumer (Goldsmith, 2005;Henry, 2005;Pitt et al, 2002;Newell, 2003;Arsy, 2021). In addition, the notion of empowerment is equated by several authors with consumer-centric marketing strategies.…”
Section: Literature Reviewmentioning
confidence: 99%