The ARIMA model is becoming a popular tool for data scientists to employ for forecasting future demand , such as sales forecasts, manufacturing plans or stock prices. In forecasting stock prices, for example, the model reflects the differences between the values in a series rather than measuring the actual values.
Read moreIs ARIMA better than exponential smoothing?
I found the only difference between ARIMA and Exponential smoothing model is the weight assignment procedure to its past lag values and error term. In that case Exponential should be considered much better that ARIMA due to its weight assigning method .
Read more