ETS (Error, Trend, Seasonality)

ETS (Error, Trend, Seasonality) is a forecasting method that models time series data by separately identifying three components: the error (how much the actual data deviates from the forecast), the trend (the general direction over time), and seasonality (regular patterns that repeat within specific periods). By analyzing these elements, ETS creates more accurate predictions of future values. It adapts to changes in the data's behavior, making it useful for various applications like sales, weather, or economic data where understanding patterns over time is important.