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

    • Related Articles

    • Holts-Winters Exponential Smoothing

      Holts-Winters Exponential Smoothing Description The Holt-Winters Exponential Smoothing, also known as Triple Exponential Smoothing. It is a powerful time series forecasting technique that extends simple exponential smoothing by adding support for ...

    • Simple Exponential Smoothing

      Simple Exponential Smoothing Description It is a widely used technique in Time-Series forecasting. It predicts the future values of a time series based on historical data. Why to Use To forecast future interval values. When to Use On a stable dataset ...

    • Rubiscape Winter '19

      New Features Platform & Studio New dataset creation feature for Twitter, PostgresSQL, SQL, MySQL, Oracle, Excel, CSV, Google News. Create dataset from a local TXT file using delimiter option. Supported delimiters are Semicolon, Pipe, Comma, Tab, ...

    • rubiscape Concepts

      Code Fusion Code fusion in rubiscape gives an ingenious option to the users to build their models in programming languages such as JAVA, R, or Python and integrate them into rubiscape. Code fusion makes the rubiscape platform more customizable and ...

    • Machine Learning Concepts

      Advanced Entity Extraction Advanced entity extraction, also known as entity recognition, is used to extract vital information for natural language processing (NLP). It is widely used for finding, storing and sorting textual content into default ...