Updating a forecast model
US8788306B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Feb 29, 2008 |
| Grant date | Jul 22, 2014 |
| Priority date | — |
| Expiry date | Jul 24, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q10/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method for updating a forecast model is disclosed. The forecast model includes parameters that receives collected data representing historical dependent and causal data. The collected data are in different units of measure from one another. Based on the collected data, the forecast model is applied to determine a total error value from a calculation performed on the parameters in the forecast model. To update the forecast model, additional parameters are added, existing parameters are modified, or parameters are removed from the forecast model to determine a modified total error value. The modified total error value is then compared to the original total error value. The parameters are also converted to normalized values to be in a common unit of measure to facilitate the application of the forecast model to determine a total error value.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.