#5 Lecture 4A | Components of a Time Series & Measures of Forecast Accuracy

Welcome to 'Jan 2024 Business Forecasting' course !

This lecture covers the components of a time series and measures of forecast accuracy. It defines different components found in time series data, including trend, seasonality, randomness or irregularities, and cyclical components, and explains their importance in understanding data patterns. The lecture also introduces measures of forecast accuracy used to evaluate the performance of time series models, such as Mean Absolute Deviation (MAD) and Root Mean Square Error (RMSE).
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Видео #5 Lecture 4A | Components of a Time Series & Measures of Forecast Accuracy канала NPTEL IIT Bombay