4 Exploring Patterns and Forecasting Techniques

This chapter will elaborate on how one identify patterns in data thus how to account for this. Thus, we are looking into smoothing methods and moving averages

Additionally, we will explore how we select forecasting methods

Literature:

• HW: Exploring Data Patterns and an Introduction to Forecasting Techniques
• HW: Moving Averages and Smoothing Methods
• Armstrong, J.S. (2001) “Selecting Forecast Methods”, In Principles of Forecasting: A Handbook for Researchers and Practitioners (Ed. J. Scott Armstrong), Kluwer