Comparative Study of Forecasting Model for Price Prediction of Rice

Abstract

In this paper, we reviewed different forecasting models and proposed a neural network-based regression model for forecasting model price of rice. This study aims to prepare a neural network model that uses some of the existing data as feature and treat some data for defining target value. We also performed experimental evaluation of various forecasting models in real data of rice using time series data (price) of rice of India from 2001 to 2012. The algorithms are evaluated based on evaluation measures such as mean error (ME), root mean square error (MSE), mean absolute error (MAE), mean percentage error (MPE), mean absolute percentage error (MAPE) and mean absolute square error (MASE).