Simple Exponential Smoothing

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

  • On a noisy dataset
  • If Real-time forecasting is essential.

When Not to Use

  • Complex Patterns and Outliers
  • High Accuracy Requirements
  • Long-Term Forecasting

Prerequisites

Error and outlier-free dataset with consistent and no missing interval values.

Input

Dataset with interval feature values

Output

  • Forecasting Chart
  • Model Parameters
  • Accuracy

Initialization Method Used

  • None
  • estimated
  • heuristic
  • legacy-heuristic
  • known

Limitations

It may not perform well when there are complex patterns, trends, or seasonality in the data.



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