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A Time Series Analysis-Based Forecasting Framework for the Indian Healthcare Sector

Journal of Insurance and Financial Management

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Title A Time Series Analysis-Based Forecasting Framework for the Indian Healthcare Sector
 
Creator Sen, Jaydip
Datta Chaudhuri, Tamal
 
Description Designing efficient and robust algorithms for accurate prediction of stock market prices is one of the most exciting challenges in the field of time series analysis and forecasting. With the exponential rate of development and evolution of sophisticated algorithms and with the availability of fast computing platforms, it has now become possible to effectively and efficiently extract, store, process and analyze high volume of stock market data with diversity in its contents.  Availability of complex algorithms which can execute very fast on parallel architecture over the cloud has made it possible to achieve higher accuracy in forecasting results while reducing the time required for computation. In this paper, we use the time series data of the healthcare sector of India for the period January 2010 till December 2016. We first demonstrate a decomposition approach of the time series and then illustrate how the decomposition results provide us with useful insights into the behavior and properties exhibited by the time series. Further, based on the structural analysis of the time series, we propose six different methods of forecasting for predicting the time series index of the healthcare sector. Extensive results are provided on the performance of the forecasting methods to demonstrate their effectiveness. 
 
Publisher Journal of Insurance and Financial Management
 
Contributor —
 
Date 2017-06-10
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
 
Format application/pdf
 
Identifier https://journal-of-insurance-and-financial-management.com/index.php/JIFM/article/view/85
 
Source Journal of Insurance and Financial Management; Vol 3, No 1 (2017): Journal of Insurance and Financial Management
2371-2112
 
Language eng
 
Relation https://journal-of-insurance-and-financial-management.com/index.php/JIFM/article/view/85/pdf
 
Rights Copyright (c) 2017 Jaydip Sen
http://creativecommons.org/licenses/by/4.0