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On Modeling and Forecasting Time Series of Smooth Curves

Summary: [This abstract is based on the author’s abstract.] A methodology is proposed for forecasting time series of smooth curves by combining functional data analysis with time series factor models. The study is motivated by a business application of forecasting future call arrival rate profiles to telephone customer service center. There are three parts to the proposed methodology: dimension reduction through a smooth factor model, time series modeling and forecasting of the factor scores, and dynamic updating using penalized least squares.

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  • Topics: Process Management, Customer Experience Management
  • Keywords: Dimensional measurement, Factor analysis, Data analysis, Shrinkage, Singular value decomposition, Forecasting
  • Author: Shen, Haipeng
  • Journal: Technometrics