A Thorough Introduction to Holt-Winters Forecasting

<p>The Holt-Winters method — also known as triple exponential smoothing — is an incredibly popular and relatively simple method for time series <a href="https://www.analyticsvidhya.com/blog/2021/07/time-series-forecasting-complete-tutorial-part-1/?utm_source=medium&utm_medium=medium&utm_campaign=backlinking" rel="noopener ugc nofollow" target="_blank">forecasting</a>. This article will be a somewhat thorough introduction into the math and theory of the Holt-Winters method, complete with a Python implementation from scratch.</p> <h1>HOLT-WINTERS METHOD</h1> <p>The Holt-Winters method is a very common time series <a href="https://www.analyticsvidhya.com/blog/2021/07/time-series-forecasting-complete-tutorial-part-1/?utm_source=medium&utm_medium=medium&utm_campaign=backlinking" rel="noopener ugc nofollow" target="_blank">forecasting</a> procedure capable of including both trend and seasonality. The Holt-Winters method itself is a combination of 3 other much simpler components, all of which are smoothing methods:</p> <p><a href="https://medium.com/analytics-vidhya/a-thorough-introduction-to-holt-winters-forecasting-c21810b8c0e6"><strong>Visit Now</strong></a></p>