INTRODUCTION
- Exponential smoothing methods are the most widely used forecasting methods.
- Exponential smoothing is an intuitive forecasting method that weights the observed time series unequally and forecast future values.
- SES is appropriate for a series that moves randomly above and below a constant mean. It has no trend and no seasonal patterns.
- Exponential smoothing is regarded as an inexpensive technique that gives good forecast in a wide variety of applications.