Continuous grey model with conformable fractional derivative

Fractional-order grey models have received more attention owing to superiority to integer-order ones in terms of the prediction performance. In this paper, to further improve the performance of grey-based model, a new method based on conformable fractional derivative, the continuous conformable fractional grey model (denoted as CCFGM(1,1) for short), is proposed. In comparison with the traditional fractional-order grey models, the novel model possesses the simpler computation procedure. The numerical results of two real cases show that the prediction performance of the novel model is superior to other competitive models and therefore, it is proved that this model effectively brings forth the improvement of the existing fractional-order grey models. (C) 2020 Elsevier Ltd. All rights reserved.