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LinkedIn Learning

Business Analytics: Forecasting with Exponential Smoothing

via LinkedIn Learning

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Overview

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Get an introduction to simple exponential smoothing, including how to assemble the forecast equation and optimize forecasts.

Syllabus

Introduction
  • Welcome
1. The Idea Behind Exponential Smoothing
  • Self-correcting forecasts
  • From error correction to smoothing
  • Exponentially declining influence of observations
  • Identify the appropriate baseline
2. The Forecasting Equation
  • Dissect the error correction form
  • Dissect the smoothing form
  • Exponential smoothing tool
  • Initialize the forecasts
3. Measuring Forecast Accuracy
  • The absolute deviation approach
  • The least squares approach
4. Optimizing Forecasts
  • Solver
  • Set up the smoothing formula for Solver
  • Solution in R
Conclusion
  • Next steps

Taught by

Conrad Carlberg

Reviews

4.3 rating at LinkedIn Learning based on 58 ratings

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