Developing a short-term comparative optimization forecasting model for operational units’ strategic planning
Data drain for peer active units operating in the same sector is a major factor that prevents policy makers from developing flawless strategic plans for their organisation. This study introduces a hybrid model that incorporates a purely deterministic method, Data Envelopment Analysis (DEA), and a semi-parametric technique, Artificial Neural Networks (ANNs), to provide a strategic planning tool for efficiency optimization applicable to short-term lag of data availability. For consecutive time instances, t and t+1, the developed DEANN model returns optimum “regression-type” input and output levels for every sample operational unit, even for the fully efficient ones, that may decide to alter the levels of the efficiency determinants, respecting the t-time efficiency frontier.
|Date of creation:||20 Apr 2011|
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- R. D. Banker & A. Charnes & W. W. Cooper, 1984. "Some Models for Estimating Technical and Scale Inefficiencies in Data Envelopment Analysis," Management Science, INFORMS, vol. 30(9), pages 1078-1092, September.
- Charnes, A. & Cooper, W. W. & Rhodes, E., 1978. "Measuring the efficiency of decision making units," European Journal of Operational Research, Elsevier, vol. 2(6), pages 429-444, November.
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