Data-Driven Real-Time Online Taxi-Hailing Demand Forecasting Based on Machine Learning Method

The development of the intelligent transport system has created conditions for solving the supply&ndash
demand imbalance of public transportation services. For example, forecasting the demand for online taxi-hailing could help to rebalance the resource of taxis. In this research, we introduced a method to forecast real-time online taxi-hailing demand. First, we analyze the relation between taxi demand and online taxi-hailing demand. Next, we propose six models containing different information based on backpropagation neural network (BPNN) and extreme gradient boosting (XGB) to forecast online taxi-hailing demand. Finally, we present a real-time online taxi-hailing demand forecasting model considering the projected taxi demand (&ldquo
PTX&rdquo
). The results indicate that including more information leads to better prediction performance, and the results show that including the information of projected taxi demand leads to a reduction of MAPE from 0.190 to 0.183 and an RMSE reduction from 23.921 to 21.050, and it increases R2 from 0.845 to 0.853. The analysis indicates the demand regularity of online taxi-hailing and taxi, and the experiment realizes real-time prediction of online taxi-hailing by considering the projected taxi demand. The proposed method can help to schedule online taxi-hailing resources in advance.