Grey means incomplete or uncertain information. The Grey model mainly works on a system analysis which has produced incomplete or uncertain information. The grey model avoids the inherent defects of conventional methods and it only requires a limited amount of data to estimate the behavior of an uncertain system or a time series.
Grey model is an applied mathematics subject which focuses on researching partial-assuring phenomena existing in information content. It is the foundation of creating a common-used prediction model.
By reference to the grey model theory, CCM has successfully developed several commonly-used models, including Output Forecast Model, Import & Export Trend Forecast Model, Consumption Trend Forecast Model, Price Trend Forecast Model, etc., which are applied to predict various kinds of annual data of a given product.
Sample of CCM’s application of grey model in the prediction of corn gluten meal’s output.