In the exponential smoothing approach, an exponentially smaller weight is applied to each demand that occurred farther back in time.
Exponential smoothing is a statistic forecasting method for univariate data that may be extended to support data with a scientific trend or seasonal component.
Exponential smoothing is a rule of thumb technique for smoothing statistic data using the exponential window function. It is a strong forecasting method.
A widely preferred class of statistical techniques and procedures for discrete statistic data, exponential smoothing is employed to forecast the immediate future.
This method supports statistic data with seasonal components, or say, systematic trends where it used past observations to create anticipations.
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