What are the different forecasting methodologies?

What are the different forecasting methodologies?

There are several forecasting methodologies, including qualitative methods, time series analysis, and causal models. Would you like to know more about a specific one?

Can you explain time series analysis?

Time series analysis involves using historical data to predict future values. It identifies trends, seasonal patterns, and cycles.

What are some common techniques used in time series analysis?

Common techniques include ARIMA, exponential smoothing, and seasonal decomposition. Each has its strengths depending on the data.

How do I choose the right methodology for my data?

Choosing the right methodology depends on the data characteristics, the forecasting horizon, and the specific goals of your analysis.