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All Journal Indonesian Journal of Contemporary Multidisciplinary Research
Budhi Handoko
Unknown Affiliation
Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

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Modelling Primary Energy by Long Memory Time Series Darmawan, Gumgum; Budhi Handoko
Indonesian Journal of Contemporary Multidisciplinary Research Vol. 2 No. 6 (2023): November 2023
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/modern.v2i6.6970

Abstract

This research employs long memory modeling techniques to analyze and forecast global energy data spanning from 1965 to 2022. Focusing on the ARFIMA (Autoregressive Fractionally Integrated Moving Average) model, the study demonstrates its efficacy in predicting energy consumption trends. The evaluation of forecasting results for the subsequent four years reveals a remarkable Mean Absolute Percentage Error (MAPE) below 5%. This outcome underscores the effectiveness of incorporating long memory components in energy modeling, offering a robust approach for accurate and reliable predictions. The findings contribute to the advancement of energy forecasting methodologies, providing valuable insights for policymakers, energy analysts, and researchers in the pursuit of sustainable and informed energy planning
Co-Authors Gumgum Darmawan