Description: Horizon forecasting is the process of predicting future values over a specific time horizon. This approach is fundamental in time series analysis, where the goal is to estimate the future behavior of a variable based on its past values. The accuracy of these predictions depends on various factors, including the quality of historical data, the choice of forecasting model, and the nature of the time series in question. Forecasts can cover different horizons, from short to long term, and are essential in various disciplines such as economics, meteorology, and inventory management. As the forecasting horizon extends, uncertainty generally increases, complicating decision-making. Therefore, it is crucial to use appropriate techniques and AutoML (automated machine learning) tools that facilitate the creation of predictive models without requiring deep technical knowledge. These tools allow users to generate forecasts more efficiently, optimizing the model selection and parameter tuning process, resulting in more accurate and useful predictions for planning and business strategy.
