Proceedings of the 2015 International Conference on Industrial Technology and Management Science

Expert-Based Text Mining with Fuzzy Delphi Method for Crude Oil Price Prediction

Authors
S. Chuaykoblap, P. Chutima, A. Chandrachai, N. Nupairoj
Corresponding Author
S. Chuaykoblap
Available Online November 2015.
DOI
https://doi.org/10.2991/itms-15.2015.92How to use a DOI?
Keywords
Knowledge Management; Forecasting; Data Mining
Abstract
As crude oil is becoming even more important commodity in the world economy, the crude oil prices fluctuation has affected both many businesses’ decision based on the crude oil prices and consumers by price inflation on consumer goods. Accordingly, the crude oil prices forecasting has continuously been interested by a lot of researchers. Text data mining from news articles is one of the widely used methods to predict the crude oil price variation caused by irregular events. Nevertheless, the main issues in text mining originate from the particularities of natural language and a great number of noisy data preventing some techniques from employing efficiently [1]. In this research, the expert-based text mining was proposed in order to screen out the noisy data before the following steps of text mining started and to cope with the concern of natural language in text mining methods. Next, the fuzzy Delphi method was then combined in order to achieve fuzzy weighted ratings for different corresponding factors extracted from the news articles. As a result, Expert-Based Text Mining with Fuzzy Delphi Method was shown to outperform the original in term the ability to predict the historical crude oil price data.
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Proceedings
2015 International Conference on Industrial Technology and Management Science
Part of series
Advances in Computer Science Research
Publication Date
November 2015
ISBN
978-94-6252-123-0
ISSN
2352-538X
DOI
https://doi.org/10.2991/itms-15.2015.92How to use a DOI?
Open Access
This is an open access article distributed under the CC BY-NC license.

Cite this article

TY  - CONF
AU  - S. Chuaykoblap
AU  - P. Chutima
AU  - A. Chandrachai
AU  - N. Nupairoj
PY  - 2015/11
DA  - 2015/11
TI  - Expert-Based Text Mining with Fuzzy Delphi Method for Crude Oil Price Prediction
BT  - 2015 International Conference on Industrial Technology and Management Science
PB  - Atlantis Press
SN  - 2352-538X
UR  - https://doi.org/10.2991/itms-15.2015.92
DO  - https://doi.org/10.2991/itms-15.2015.92
ID  - Chuaykoblap2015/11
ER  -