Comparative Analysis of Chen and Singh's Fuzzy Time Series Method on Trend Revenue Forecasting Data
Author: Ketut Jaya Atmaja*, I Gusti Bagus Indrajaya, Kadek Yogi Susana, I Made Subrata Sandhiyasa, I Gede Iwan Sudipa
Institut Bisnis dan Teknologi Indonesia (INSTIKI), Denpasar, Bali, Indonesia.
Published Date: 2024-12-08
Keywords: Forecasting, Fuzzy Time Series, Chen and Sing Model.
Abstract:
CV. Global Bali Expert, a tourism-related organization and the focus of this investigation, has applied revenue estimates from the preceding period as a benchmark for predicting future revenue. This method has resulted in marketing strategies that are less mature and ambiguous in terms of the company's development. One potential resolution to this problem is to implement revenue forecasting calculations. This study contrasts the Chen and Singh Fuzzy Time Series models to ascertain which forecasting model is more precise for this organization. The Chen model predicted Rp. 19,229,988 for the total revenue category, with a MAPE accuracy rate of 19.13%, and the Singh model predicted Rp. 20,074,992 for the same category, with a MAPE accuracy rate of 5.17%. The Singh Fuzzy Time Series model outperforms the Chen model, as can be inferred from this research.
