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What is Exponential Smoothing in Forecasting about?

Here are the steps to forecast demand for week 7 using exponential smoothing: 1. The initial forecast for week 1 is the actual demand of 820 2. Forecast for week 2 is 820 + α(775 - 820) = 820 3. Forecast for week 3 is 811 + α(680 - 811) = 811 4. Forecast for week 4 is 785 + α(655 - 785) = 785 5. Forecast for week 5 is 759 + α(750 - 759) = 759 6. Forecast for week 6 is 757 + α(802 - 757) = 757 7. Forecast for week

Author

Mitika Tuteja

Language

EN