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    The document summarizes a research project that introduces a hybrid model combining EEMD, LASSO, and LSTM for improved time-series demand forecasting. The model decomposes time-series data using EEMD, applies LASSO regression to select key features, and builds a demand forecasting model using the features and LSTM. Testing on three industrial datasets showed the hybrid model consistently outperformed traditional methods. The researchers have presented their findings, are translating their paper to English to submit to a journal, and have filed a patent for the EEMD+LASSO+LSTM technology.

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    The document summarizes a research project that introduces a hybrid model combining EEMD, LASSO, and LSTM for improved time-series demand forecasting. The model decomposes time-series data using EEMD, applies LASSO regression to select key features, and builds a demand forecasting model using the features and LSTM. Testing on three industrial datasets showed the hybrid model consistently outperformed traditional methods. The researchers have presented their findings, are translating their paper to English to submit to a journal, and have filed a patent for the EEMD+LASSO+LSTM technology.

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    One Page Summary

    Uploaded by

    21800768
    The document summarizes a research project that introduces a hybrid model combining EEMD, LASSO, and LSTM for improved time-series demand forecasting. The model decomposes time-series data using EEMD, applies LASSO regression to select key features, and builds a demand forecasting model using the features and LSTM. Testing on three industrial datasets showed the hybrid model consistently outperformed traditional methods. The researchers have presented their findings, are translating their paper to English to submit to a journal, and have filed a patent for the EEMD+LASSO+LSTM technology.

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    One-page Summary 23-2 ACE Capstone / Advisor : Doohee Chung

    • Team Introduction • Content Summary


    Juyoung Ha(ICT Convergence, Business)
    Juyoung Ha focuses on modeling and experimentation, developing computational models
    and conducting simulations for the study.

    Sooyeon Jeong(ACE, Business) Enhancing the performance of time-series prediction models is a key task in the field of
    Sooyeon Jeong handles prior research investigation and paper editing, ensuring the data science, particularly in the area of demand forecasting, which is essential for business
    management. While there has been significant research in this area, challenges persist, and
    research aligns with existing studies and is presented cohesively.
    both academia and industry are seeking more advanced models.

    • Project Subject Our research presents a hybrid model that combines EEMD (Ensemble Empirical Mode
    Decomposition), LASSO (Least Absolute Shrinkage and Selection Operator), and LSTM (
    Our study introduces a hybrid model combining EEMD, LASSO, and LSTM for improved Long Short-Term Memory). The process begins with the EEMD method decomposing the
    time-series demand forecasting. time-series data into different frequency components. Then, LASSO regression is applied to
    refine and select key features. These features are subsequently used to build a demand
    forecasting model using LSTM. The model's efficacy is assessed using metrics such as
    • Background
    NRMSE, NMAE, and R2 on three distinct industrial datasets. Our findings show that the
    EEMD+LASSO+LSTM model consistently surpasses traditional methods in performance.
    Unstructured demand data and market irregularities have pointed out the limitations of
    traditional methods and no single model can fully handle market volatility. In particular, This study highlights the model's ability to improve the accuracy of demand forecasting,
    thereby supporting more informed business strategy decisions.
    forecasting accuracy is lacking during demand spikes, and advanced hybrid models have
    not yet been proposed in the business world.

    • Project Progress

    Our research is currently engaged in a proof-of-concept (POC) validation of our proposed model,
    aiming to assess its effectiveness in real-world business. Upon completing this validation, we have
    already drafted and presented a paper detailing our findings at the Korean Society for Intelligent
    • Project Output
    Information Systems conference. Presently, we are translating the paper into English with the
    intention of submitting it to the Expert Systems with Applications 1. Paper Presentation at the Korean Intelligent Information Systems
    2. Patenting a proposed model
    In addition to these academic pursuits, we have taken a significant step towards the commercial
    application of our model by filing a patent for the innovative EEMD+LASSO+LSTM technology. 3. Publishing a paper at the Expert Systems with Applications (In progress)

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