Overview on Forecasting Models in Power BI

Time Series forecasting in PBI is based on the thumb technique of smoothening time series prediction called Exponential Smoothening (ES). ES of time series data assigns exponentially decreasing weights for newest to oldest observations. ES is also be used for time series with trend and seasonality. This model is usually used to make short term forecasts, as longer-term forecasts using this technique can be quite unreliable. Collectively, the methods are sometimes referred to as ETS models, referring to explicit modeling for errors, Trend and Seasonality.