Owing to the difference of the sequences' orders and the surface structure in the current panel grey relational models, research results will not be unique. In addition, individual measurement of indicators and objects and the subjectivity of combined weight would significantly weaken the effective information of panel data and reduce the reliability and accuracy of research results. Therefore, we propose the concept and calculation method of dispersion of panel data, establish the grey relational model based on dispersion of panel data (DPGRA), and prove that DPGRA exhibits the effective properties of uniqueness, symmetry, and normality. To demonstrate its applicability, the proposed DPGRA model is used to research on storm-tide disaster losses in China's coastal areas. Comparing research results of three models, which are DPGRA, Euclidean distance grey relational model, and grey grid relational model, it was shown that DPGRA is more effective, feasible, and stable. It is indicated that DPGRA can entirely utilize the effective information of panel data; what's more, it can not only handle the non-uniqueness of the grey relational model's results but also improve the reliability and accuracy of research results. The research results are of great significance for coastal areas to focus on monitoring storm-tide disasters hazards, strengthen the protection measures of natural disasters, and improve the ability of disaster prevention and reduction.
Keywords: dispersion; grey relational analysis; storm-tide disaster; sustainable development on marine economics.