the forecast Y^t+1 in exponential smoothing is a weighted combination of all previous value in the time series where the most recent observation Yt receives the heaviest (a), the next most recent observation Yt-1 receives the next heaviest weight (a(1-a)),and so on.
In an exponential smoothing model,small values of a tend to produce sluggish forecasts that do not react quickly to changes in the data.Avalue of a