Applying Exponential Smoothing for Accurate Time Series Forecasts
Last Updated on July 17, 2023 by Editorial Team
Author(s): David Andres
Originally published on Towards AI.
1. Simple Exponential Smoothing
Source: Image by euzepaulo on Unsplash
Exponential Smoothing is a great method to predict future events based on past experiences. It’s especially handy when you’re dealing with a single type of data that changes over time, like the number of people visiting a website or the sales of a product.
Basically, Exponential Smoothing looks at how things have changed in the past and uses that to guess what might happen in the future. It does this by giving more weight to recent data and less weight to older data. That way, if something abnormal happened in the past (like a huge spike… Read the full blog for free on Medium.
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