Term
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Definition
| upward/downward movement of data over time |
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Term
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Definition
| pattern of demand fluctuations that occurs every year above/below the average demand |
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Term
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Definition
| pattern that occurs over several years |
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Term
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Definition
| "blips" in data caused by chance/unusual situations |
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Term
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Definition
| time-series data with no significant upward/downward trend in the data over time |
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Term
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Definition
| time-series with a significant upward/downward trend in the data over time |
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Term
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Definition
| forecasting technique that averages past values in computing the forecast |
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Term
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Definition
| moving average forecasting method that places different weights on different past values |
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Term
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Definition
| forecasting technique that is a combination of the last forecast and the last actual value |
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Term
| multiplicative decomposition model |
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Definition
| decomposition model in which the forecasted value is the product of the four components trend, seasonality, cycles, and random variation |
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Term
| additive decomposition model |
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Definition
| decomposition model in which the forecasted value is the sum of the four components: trend, seasonality, cycles, and random variations |
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Term
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Definition
| consists of breaking down a complex model into several smaller models and defining a sequence to solve the smaller models in order to find a solution big original model |
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