Tag: How is ARIMA model used in forecasting?

ARIMA (1,1,33) model showed better accuracy. Although within the measurement of MAPE, the accuracy was 99.74% and ARIMA (1,2,33) was 99.75% which is almost the same. However, owing to its result from holdout test it is considered the best accuracy among the three models.

The ARIMA models have proved to be excellent short-term forecasting models for a wide variety of time series.

ARIMA (Autoregressive Integrated Moving Average): ARIMA is arguably the most popular and widely used statistical technique for forecasting .