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Alexander Hess 2020-10-04 23:00:15 +02:00
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\subsection{Demand Forecasting with Classical Forecasting Methods}
\label{class_methods}
Forecasting became a formal discipline starting in the 1950s and has its
origins in the broader field of statistics.
\cite{hyndman2018} provide a thorough overview of the concepts and methods
established, and \cite{ord2017} indicate business-related applications
such as demand forecasting.
These "classical" forecasting methods share the characteristic that they are
trained over the entire $Y$ first.
Then, for prediction, the forecaster specifies the number of time steps for
which he wants to generate forecasts.
That is different for ML models.