From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
Why seasonal baseline smoothing will help your regression
From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
Why seasonal baseline smoothing will help your regression
- [Conrad] You frequently have access to a baseline of data that varies by season. Your company might sell parkas and sales rise in the fall and decline in the spring. Or, suppose you track and forecast the incidence of traffic accidents, which might increase on weekend nights compared to other dates and times. In these and similar cases, you have your hands on a seasonal baseline. There's information in those seasonal variations that can enrich your forecast considerably and help them grow more accurate. Hi, my name is Conrad Carlberg. This course is designed to help you identify seasonality in your datasets and use it to enhance your forecasts. I'll be using two applications to do so, Microsoft Excel, which is a great platform for seeing what's going on in an analysis, and R, which enables you to structure a complex analysis with just a few commands. Let's get started.
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