ETS Model

An ETS (Error, Trend, Seasonality) model is a statistical tool used for forecasting time series data, like sales or weather patterns. It breaks down the data into three components: the 'Error' (random fluctuations), the 'Trend' (long-term movement), and 'Seasonality' (regular repeating patterns). By analyzing these components, the model can predict future values with reasonable accuracy. Essentially, it captures how data changes over time and adjusts for recurring seasonal patterns, helping businesses and researchers make informed decisions based on past trends and seasonal effects.