Exponential Smoothing Automated

This application uses a forecasting methodology known as Exponential

smoothing, in which the forecast for a period is based upon combining

a percentage of the forecast for the previous period with the actual

figures for that period. This percentage, called the smoothing

constant, can take any value between 0 and 1, depending upon the

weighting you wish to give the two factors. A value of 1 gives full

weight to the actual data for the previous period, where as 0 gives

full weight to the previous forecast. The constant is specified

during the applications initialization phase.