Science and Technology, the Facilities for Innovative use of Data in Research at the Area of Oil Industry

The oil price under influence of several problems such as financial and political crises and economic decisions has undergone various structural failure and fluctuationsconsequently the behavioral pattern differs for this variable over the time. Considering this behavioral pattern in examining the price of oil and planning based on the results can result in negative outcomes such as price fluctuations for the countries including importer and exporter. This is in a way that modeling these complexities without access to software will be impossible from processing and simulation perspectives. MS-ARMA regression is one of the complicated modeling methods that can be estimated through software MATLAB. In this regard, the present research has examined importance of science and technology via regression model ARMA compared to regression model MSARMA to predict oil price via software MATLAB. Results of this study indicated high efficiency of regression model MS-ARMA compared to regression model ARMA. As a result, use of strong software via modeling and simulation result in more precise results in studies.