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Linear trend estimation is a statistical technique used to analyze data patterns. Data patterns, or trends, occur when the information gathered tends to increase or decrease over time or is influenced by changes in an external factor.
Armstrong is the author of Long-Range Forecasting and the editor and co-author of Principles of Forecasting: A Handbook for Researchers and Practitioners.He was a founder and editor of the Journal of Forecasting, [6] and a founder of the International Journal of Forecasting, and the International Symposium on Forecasting.
Forecasting is the process of making predictions based on past and present data. Later these can be compared with what actually happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis.
Robin John Hyndman (born 2 May 1967 [citation needed]) is an Australian statistician known for his work on forecasting and time series. He is a Professor of Statistics at Monash University [ 1 ] and was Editor-in-Chief of the International Journal of Forecasting from 2005–2018. [ 2 ]
Probabilistic forecasting summarizes what is known about, or opinions about, future events. In contrast to single-valued forecasts (such as forecasting that the maximum temperature at a given site on a given day will be 23 degrees Celsius, or that the result in a given football match will be a no-score draw), probabilistic forecasts assign a probability to each of a number of different ...
Economic forecasting is the process of making predictions about the economy. Forecasts can be carried out at a high level of aggregation—for example for GDP , inflation , unemployment or the fiscal deficit —or at a more disaggregated level, for specific sectors of the economy or even specific firms.
Demand forecasting plays an important role for businesses in different industries, particularly with regard to mitigating the risks associated with particular business activities. However, demand forecasting is known to be a challenging task for businesses due to the intricacies of analysis, specifically quantitative analysis. [ 4 ]
William Delbert Gann (June 6, 1878 – June 18, 1955) or WD Gann, was a finance trader who developed the technical analysis methods like the Gann angles [1] [2] and the Master Charts, [3] [4] where the latter is a collective name for his various tools like the Spiral Chart (also called the Square of Nine), [5] [6] [7] the Hexagon Chart, [8] and the Circle of 360.