Forecasting: standard methods
To continue the first post of a series on forecasting, let’s discuss standard methods used for predicting time series. The two firsts methods can be used as benchmark for comparing with more advances models:
Mean value: the mean of the time series used for training is used as the forecast for all values in the test time series.
Other approaches exist such as Exponential Moving Average (EMA), ARIMA, Neural Network (NN) and Support Vector Regression (SVR). Do you use other techniques for forecasting? Which one is better according to your experience?