I. Introduction
Short term forecasting of traffic conditions, meaning how traffic conditions will evolve up to one hour ahead, is vital to efficient traffic management, both for short term decision taking in order to face unexpected incidents and for long term planning of a road network’s operation. In addition, short term traffic flow forecasting is one of the most essential components of Intelligent Transportation Systems (ITS). Practically, in an ITS environment, short term traffic predictions can be incorporated into a traffic signal scheme and enhance traffic management in order to reduce traffic congestion [1]. Moreover, most navigating systems, which are core technology of ITS, are mainly dependent on traffic predictions [2]. The above-mentioned aim to improve the level of service of any urban transportation system and make it more sustainable, reliable and efficient in terms of cost, time waste, fuel consumption, environmental friendliness, safety etc. [3].