Forecasting Shallot Prices in West Sumatra Province Using the Fuzzy Time Series Method of the Singh Model and the Cheng Model

Abstract

Shallots are one of the leading spices that are widely used by humans as food seasoning and traditional medicine. The price of shallots always fluctuates which can affect the buying and selling of consumers and producers. Therefore, forecasting is used as a reference to be able to predict the price of shallots in the future and can provide convenience to the public for the condition of shallot prices in the next period. The forecasting method used is the fuzzy time series (FTS) method. FTS is a method whose forecasting uses data in the form of fuzzy sets sourced from real numbers to the universe set on actual data. Forecasting models used in this study are Singh's FTS model and Cheng's model. The data used is monthly data on shallot prices in West Sumatra Province for the period January 2018 to March 2022. The results obtained in this forecast are the Singh model FTS has a smaller MAPE value of 4.41% with a forecasting accuracy value of 95.59 %. This means that Singh's FTS model is better at predicting the price of shallots in West Sumatra Province.