Holt Exponential Smoothing

Holt Exponential Smoothing

Holt Exponential Smoothing

Description

  • Holt Exponential Smoothing, also known as Double Exponential Smoothing, is a forecasting.
  • It is an extension of Simple Exponential Smoothing.
  • This method is used for data that exhibit a trend but no seasonal component.

Why to use

It is a forecasting method used to predict the future values based on the time series data.

When to use

On datasets exhibiting a linear trend over time.

When not to use

  • On datasets with strong seasonality.
  • Data with Non-Linear trends.

Prerequisites

A time series data with linear trend and no seasonal patterns.

Input

Time series data

Output

  • Forecasting Chart
  • Model Parameters
  • Accuracy Parameters

Statistical Method Used

  • Trend
  • Interval
  • Seasonality

Limitations

  • Sensitivity to Outliers
  • Non-seasonal data
  • Non-linear data

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