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Hybrid Forecasting Methods: Applications in Agricultural Research in India


Sujata Baruah
Pages: 59-66
ISBN: 978-93-5834-852-1


Emerging Trends in Agriculture Sciences (Volume -15)

Emerging Trends in Agriculture Sciences
(Volume - 15)

Abstract

Agriculture is known as the broadest economic sector that plays a prominent role in the overall socio-economic framework of India. The economy of India is dynamic. Time series analysis is a method that analyses past data points to abstract some meaningful statistics or characteristics of the data. Thus, time series forecasting is a research domain that plays an indispensable role in the agricultural sector of India as well. It is an aspect that supports proper planning and decision-making for the sustainable growth of a country. However, a time series may not be considered completely linear or nonlinear due to the complex nature of the series. And it is required to study both linear and nonlinear parts accordingly. Hybrid forecasting techniques are the methods that are introduced to capture the complete behavior of any kind of data series.

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