A forecasting method is a category (or specific group) of algorithms. A forecasting technique is a specific type of algorithm used to address a certain data condition. A forecasting model is the final application of the technique.
For example, there are several Winters methods (for example, additive and multiplicative) that can be applied using a particular technique (for example, linear or damped trend). When you choose a Winters method and apply the technique to a particular item's sales history you've created a model. Multiple linear regression (MLR) is a method that utilizes several different techniques (ordinary least squares - OLS, general least squares - GLS, robust regression). When you choose one of these techniques and apply it to the sales history of an item, you've created a model.
Each model and application of the technique can be different based on the situation, purpose, and/or data configuration.
More terms such as forecasting technique in Dictionary F.
- Manual Flow Process:
- Help operations assigned over the line segments and takt areas. You can use the flow process function to display the total time taken to perform operations for a product in the individual takt areas forecasting technique definition.
- Manual Finding (CA-QIE):
- Help Describes how something deviates from the requirements. The deviations were determined during an inspection forecasting technique explain.
- Manual Function Library:
- Help A central repository for all function modules in the SAP System. The function library is part of the Function Builder forecasting technique what is.
- Manual Filter Condition:
- Help restriction criterion that is assigned to an attribute. This criterion refers to an attribute from the same selection data source. For example, you can assign a date condition such as May 1 until forecasting technique meaning.
- Manual Float (PM):
- Help before and after the date at which a maintenance package becomes due, during which the package can be performed without altering the subsequent due dates. The lead float tells you how long before the forecasting technique abbreviation.