Why you should care about exponential smoothing

Wednesday 1 May 2024, 1:00pm to 2:00pm



Open to

Postgraduates, Public, Staff


Registration not required - just turn up

Event Details

Dr Ivan Svetunkov will present a seminar to the Management Science Department

Abstract: In the age of Machine Learning, many data scientists have started using more complicated approaches for forecasting, such as GAM, XGBoost, k-NN, Artificial Neural Networks etc. Due to the increased interest in these methods, the simpler and robust approaches might look less attractive than the more innovative ones and as a result tend to be neglected. However, the good old exponential smoothing still works well in many situations and is still widely used in practice, especially in demand planning. In this talk, Ivan will give a short overview of the history of exponential smoothing, show how it has evolved over time, explain why it has been so popular and discuss how it can be used in the modern demand forecasting in a variety of situations.

Bio: Ivan Svetunkov is a Lecturer of Marketing Analytics at Lancaster University, UK and a Marketing Director of the Lancaster Centre for Marketing Analytics and Forecasting. He has PhD in Management Science from Lancaster University and a candidate degree in economics from the Saint Petersburg State University of Economics and Finance. His main area of interest is in developing statistical methods for forecasting. He is a creator and a maintainer of several forecasting- and analytics-related R packages and an author of a monograph "Forecasting and Analytics with the Augmented Dynamic Adaptive Model (ADAM)" (https://openforecast.org/adam/).

Contact Details

Name Gay Bentinck