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A Novel Feature Selection and Short-Term Price Forecasting Based on a Decision Tree (J48) Model

Author

Listed:
  • Ankit Kumar Srivastava

    (Electrical Engineering Department, Institute of Engineering & Technology, Dr. Rammanohar Lohia Avadh University, Ayodhya 224001, India)

  • Devender Singh

    (Electrical Engineering Department, Indian Institute of Technology (BHU), Varanasi 221005, India)

  • Ajay Shekhar Pandey

    (Electrical Engineering Department, Kamla Nehru Institute of Technology, Sultanpur 228118, India)

  • Tarun Maini

    (Electrical Engineering Department, Indian Institute of Technology (BHU), Varanasi 221005, India)

Abstract

A novel feature selection method based on a decision tree (J48) for price forecasting is proposed in this work. The method uses a genetic algorithm along with a decision tree classifier to obtain the minimum number of features giving an optimum forecast accuracy. The usefulness of the proposed approach is established through the performance test of the forecaster using the feature selected by this approach. It is found that the forecast with the selected feature consistently out-performed than that having larger feature set.

Suggested Citation

  • Ankit Kumar Srivastava & Devender Singh & Ajay Shekhar Pandey & Tarun Maini, 2019. "A Novel Feature Selection and Short-Term Price Forecasting Based on a Decision Tree (J48) Model," Energies, MDPI, vol. 12(19), pages 1-17, September.
    • Handle: RePEc:gam:jeners:v:12:y:2019:i:19:p:3665-:d:270597
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    References listed on IDEAS

    as
    1. Xin Gao & Xiaobing Li & Bing Zhao & Weijia Ji & Xiao Jing & Yang He, 2019. "Short-Term Electricity Load Forecasting Model Based on EMD-GRU with Feature Selection," Energies, MDPI, vol. 12(6), pages 1-18, March.
    2. Min-Kyu Baek & Duehee Lee, 2017. "Spatial and Temporal Day-Ahead Total Daily Solar Irradiation Forecasting: Ensemble Forecasting Based on the Empirical Biasing," Energies, MDPI, vol. 11(1), pages 1-18, December.
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    Cited by:

    1. Ankit Kumar Srivastava & Ajay Shekhar Pandey & Rajvikram Madurai Elavarasan & Umashankar Subramaniam & Saad Mekhilef & Lucian Mihet-Popa, 2021. "A Novel Hybrid Feature Selection Method for Day-Ahead Electricity Price Forecasting," Energies, MDPI, vol. 14(24), pages 1-16, December.

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    More about this item

    Keywords

    price forecasting; J48 classifier; feature selection; elite genetic algorithm; confidence interval;
    All these keywords.

    JEL classification:

    • J48 - Labor and Demographic Economics - - Particular Labor Markets - - - Particular Labor Markets; Public Policy

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