Forecasting Air Travel Demand

5   An integrated short-term forecasting framework with empirical mode decomposition method

In this chapter, we mainly focus on the model selection and construction of the short-term air travel demand framework, especially for the complex and volatile economic circumstances, where the common forecasting models such as the ARIMA models may fail with a relatively high probability. Thus, a novel and effective forecasting method is required. To achieve a better forecasting performance under complex and volatile economic circumstances, this chapter proposes an integrated short-term forecasting framework based on the TEI@I methodology, with the empirical mode decomposition method as a decomposition method. The final empirical results, based on historical ...