What is Time Series Forecasting?
Time series forecasting methods produce forecasts based solely on historical values. Time series forecasting methods are widely used in business situations where forecasts of a year or less are required. The time series techniques used in ezForecaster are particularly suited to Sales, Marketing, Finance, and Production planning. Time series methods have the advantage of relative simplicity, but certain factors need to be considered: Time series methods are better suited to short-term forecasts (i.e., less than a year). Time series forecasting relies on sufficient past data being available and that the data is of a high quality and truly representative. Time series methods are best suited to relatively stable situations. Where substantial fluctuations are common and underlying conditions are subject to extreme change, then time series methods may give relatively poor results. Classically, researchers approach the problem of modeling a time series by identifying four kinds of change. The
Related Questions
- After watching a series of films to a break, it starts from the beginning of the series in the next time access. Does MH720 have some "memory" to continue playing from the point of break?
- Why such long periods of time between each release of the Mario Brothers Series?
- What is Time Series & Forecasting Analysis?
