Chapter 1 Introduction

Whenever we talk about statistics, analytics or forecasting, we deal with models that are constructed based on available information. So, it is important to understand what a model is, what types of models exist and how to measure information in order to use it in models afterwards. This is what we will discuss in this chapter.

The software behind this book. The methods described here are implemented in the greybox package for R and Python, which are free and open source.

Want to learn this with us? We teach these methods to practitioners on Demand Forecasting Principles, a four-week online course, and run other courses in forecasting, statistics and analytics.