Term

Definition
upward/downward movement of data over time 


Term

Definition
pattern of demand fluctuations that occurs every year above/below the average demand 


Term

Definition
pattern that occurs over several years 


Term

Definition
"blips" in data caused by chance/unusual situations 


Term

Definition
timeseries data with no significant upward/downward trend in the data over time 


Term

Definition
timeseries with a significant upward/downward trend in the data over time 


Term

Definition
forecasting technique that averages past values in computing the forecast 


Term

Definition
moving average forecasting method that places different weights on different past values 


Term

Definition
forecasting technique that is a combination of the last forecast and the last actual value 


Term
multiplicative decomposition model 

Definition
decomposition model in which the forecasted value is the product of the four components trend, seasonality, cycles, and random variation 


Term
additive decomposition model 

Definition
decomposition model in which the forecasted value is the sum of the four components: trend, seasonality, cycles, and random variations 


Term

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 

