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Title: Improving Forecasting Performance Using a Committee Approach: A Machine Learning Framework
Accession Number: 01698034
Record Type: Component
Abstract: This paper examines the use of a committee of forecasting models in various transportation applications. The methods used in forming a committee of predictors are surveyed and discussed. As a result, a criteria list for choosing the final committee components is set. Four different approaches for combining the forecasts of individual models are tested: (1) Consensus forecasts (2) Bagging (3) Reinforcement Learning and (4) Bayesian Estimation. Each of the four techniques is tested on forecasting flight departures from O’Hare International Airport, and on the number of entries into Howard metro rail station in Chicago. The performance of the individual prediction models is compared to the performance of the committee. The performance across committees is also examined. The results confirm the improvement in accuracy when using a committee of forecasters. For both data sets, Reinforcement Learning (RL) and Consensus forecasts had similar performance although RL was slightly better, and both methods outperformed the other approaches. By analyzing the error distributions the authors were able to trace the change in the prediction uncertainty when moving from individual components to committees. Finally, the committees were able to limit the outlier frequency and generate predictions with a small error distribution standard deviation unlike the individual components.
Supplemental Notes: This paper was sponsored by TRB committee ABJ70 Standing Committee on Artificial Intelligence and Advanced Computing Applications.
Report/Paper Numbers: 19-05306
Language: English
Corporate Authors: Transportation Research BoardAuthors: Pagination: 7p
Publication Date: 2019
Conference:
Transportation Research Board 98th Annual Meeting
Location:
Washington DC, United States Media Type: Digital/other
Features: Figures; References
TRT Terms: Identifier Terms: Geographic Terms: Subject Areas: Aviation; Planning and Forecasting; Public Transportation
Source Data: Transportation Research Board Annual Meeting 2019 Paper #19-05306
Files: TRIS, TRB, ATRI
Created Date: Dec 7 2018 9:44AM
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