Short-term traffic-flow forecasting with auto-regressive moving average models.

Short-term traffic-flow forecasting, the process of predicting future traffic conditions based on historical and real-time observations, is an essential aspect of intelligent transportation systems. The existing well-known algorithms used for short-term traffic flow include time-series analysis-based techniques, of which the seasonal auto-regressive moving average model is one of the most precise methods used in this field. The effectiveness of short-term traffic flow in an urban transport network can be fully realised only in its multivariate form where traffic flow is predicted at multiple sites simultaneously. In this paper, this concept in explored utilising an additive seasonal vector auto-regressive moving average model to predict traffic flow in the short-term future considering the spatial dependency among multiple sites. The dynamic linear model representation of the auto-regressive moving average model is used to reduce the number of latent variables. The parameters of the model are estimated in a Bayesian inference framework employing a Markov chain Monte Carlo sampling method. The efficiency of the proposed prediction algorithm is evaluated by modelling real-time traffic-flow observations available from a certain junction in the city centre of Dublin, Ireland. [ABSTRACT FROM AUTHOR]