Holt-Winters Method

The Holt-Winters Method is a statistical technique used for forecasting time series data that show seasonal patterns. It combines three elements: level (the average value), trend (the direction in which the data is moving), and seasonality (repeating patterns at specific intervals). By adjusting these components over time, the method can predict future values based on past data. It's particularly useful for businesses to anticipate sales fluctuations, inventory needs, or other cyclical trends, helping them make informed decisions.