Evaluating the Accuracy of Machine Learning Forecasts

Abstract

To improve the accuracy of forecasting in machine learning, we must investigate multiple machine learning models and see how accurately they can predict values after training. We used seven machine learning models to try and get more accurate predictions. The models that were used were ARIMA, SES, MLP, CART, LightGBM, and XGBoost. We used a processed dataset from a Terminal at LAX that had the number of people traveling through terminal X every hour in March from 2015-2019. We trained our models with the dates March 6 - March 19 to predict the value for March 20th and the hours 6:00 am to 6:00 pm since those are the most popular traveling hours. By using the different models, we had varying results of accuracy when estimating the amount of people traveling through terminal X on March 20th. We know that machine learning models are helpful for forecasting and by seeing how accurately these models can predict, we can see how forecasting can be helpful for other issues. Using these methods, airports can use forecasting to predict the amount of people coming in and out and can use these predictions to prepare their resource management, operational efficiency, and overall passenger experience.