Holts-Winters Exponential Smoothing

Holts-Winter Exponential Smoothing is located under Forecasting > Modeling > Holts-Winter Exponential Smoothing. Double-click or drag-and-drop the algorithm to use in the workbook canvas. Click the algorithm to view and select the different properties for analysis.

Properties of Holts-Winter Exponential Smoothing

The properties of Holts-Winter Exponential Smoothing are shown as figure below:

The table below describes the different fields present on the properties of Train-Test Split.

Field	Description	Remark
	It helps to execute the node.	--
	It helps to explore the successful node.	--
	It displays the following options in the list view. Run till node Run from node Publish as a model Publish code	--
Task Name	It is the name of the task selected on the workbook canvas.	You can click the text field to edit or modify the task name as required.
Time ID Variable	It allows you to select the interval type variable for which we need to process the dependent or target variable's values.	Only one data field can be selected. If selected, only an interval type variable should be selected. Variables with numerical value are not available.
Target Variable	It allows you to select the experimental or predictor variable(s).	Only one data field can be selected. Variables with only numerical values are available.
Group By	It allows you to select the variable for which you want to group the data.	Multiple data field can be selected. Only categorical type variables are available.
Advanced
Trend	It represents the direction and rate of change in the underlying level of the time series data over time.	The available options are None add mul additive multiplicative The default value is None.
Interval	It allows to select the interval for the accumulation of data in the accumulation test.	Available options are – Day Week Month Quarter Year The default value is Month.
Damped Trend	A trend that gradually decreases over time, reflecting the expectation that the growth rate will slow down or plateau.	The available options are True False
Seasonal Period	It is a key parameter in time series analysis that represents the length of one complete cycle of seasonal variations in the data. This period corresponds to the frequency at which the seasonal pattern repeats.	For example, In monthly data, if there is an annual seasonal pattern, the seasonal period is 12 months. In weekly data, if the pattern repeats every year, the seasonal period would be 52 weeks.
Seasonal	It specifies the type of seasonality to be used in the model.	The available options are None add mul additive multiplicative The default value is None.
Initialization Method	It refers to the approach used to set the initial values for the level, trend, and seasonal components of the time series.	The available options are None estimated heuristic legacy-heuristic known The default value is None.
Initial Level	It estimates the starting value of the time series, representing the baseline level from which trends and seasonal components are calculated.	--
Initial Trend	It is an estimate of the trend component at the start of the time series.	--
Initial Seasonal	estimates the values of the seasonal components for each period within the first full season of the time series.	--
Use Boxcox	It allows use of the box cox transformation to stabilize variance and make the data more normally distributed, which can improve the accuracy and reliability of the model.	The available options are True False log float The default value is False.
Missing	It provides the option to deal with the missing data.	The available options are None drop The default value is None.
Number of Periods of Forecasting	Enter the number of future time points for which predictions to be made using the model.	--
Bounds	It allows you to specify constraints for the optimization process when fitting the model.	The available options are: DAMPING_TREND SMOOTHING_SEASONAL INITIAL_TREND INITIAL_LEVEL

Example of Holt-Winters Exponential Smoothing

Consider a StockPrice dataset. It contains historical data of a stock's prices over a period. It contains a "Close" column on which we apply the transformation. A snippet of the input data is shown below.

We apply the Train Test Split to the input data and then apply the Holt Winter Exponential Smoothing to the Train Test Split node.

The figure below displays the properties pane with selected values.

Further, the result page displays,

Forecasting chart with predicted value.
Trained Model Parameters
Accuracy Parameters