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.