How Does ezForecaster
ezForecaster uses techniques known as
Time Series Forecasting Methods to project future values.
In January, we sell 2 products, and then in February, we sell 4
products. Time Series Forecasting looks for a pattern in the data and
extrapolates it forwards. Given the evidence we have so far, we can
guess two patterns:
Our sales are increasing by 2 every month - so in March we'll
sell 6 products
sales are doubling every month - so in March we will sell 8
In this case, it's impossible to know which
is the more accurate assessment - because in this deliberately
simplified case, we don't have enough evidence, we need
more historic data. Nonetheless, this example demonstrates the thought
pattern within ezForecaster, which is to try every possible method and
see which one or ones are most appropriate and project them forward.
fact, ezForecaster has 21 different forecasting techniques, and it runs
some of them hundreds of times over with different settings, so in a
second, ezForecaster will literally have tried out thousands
of pattern matching methods and will have determined the best one.