 Exponential smoothing

Exponential smoothing is a statistical technique used for forecasting time series data. It involves using weighted averages of past observations, with the weights decaying exponentially. This means that more recent observations have a greater influence on the forecast than older observations. Exponential smoothing is particularly useful for data with trends and seasonal patterns. There are several types of exponential smoothing methods, including: 1. **Simple Exponential Smoothing**: This method is used for time series data without trends or seasonal patterns.