3 What is EXPONENTIAL Smoothing in Time Series Forecasting?

Learn about exponential smoothing, a fundamental technique in time series forecasting. Exponential smoothing is a popular method used to forecast future values in a time series by giving more weight to recent observations. In this video, we'll delve into the basics of exponential smoothing, exploring how it works, its different types, including simple exponential smoothing, Holt's method, and Holt-Winters method, and its applications in real-world forecasting scenarios. Understand the advantages and limitations of exponential smoothing and how it compares to other forecasting methods. By the end of this video, you'll have a solid understanding of exponential smoothing and how to apply it to improve your time series forecasting skills. Whether you're a student, researcher, or professional, this video is designed to provide a comprehensive introduction to exponential smoothing, making it an invaluable resource for anyone interested in time series forecasting.