"Extrapolation methods" are statistical techniques used to estimate or predict future values or trends based on existing data. These methods are commonly used in various fields such as economics, politics, market research, and demography to create forecasts and support decision-making processes.
Typical functions of software in the field of "extrapolation methods" include:
Data preparation: Importing, preprocessing, and cleaning data from various sources for analysis.
Modeling: Applying various statistical models and methods to estimate future values or trends.
Parameter adjustment: Adjusting model parameters to fit the available data and improve the accuracy of predictions.
Prediction generation: Generating predictions or estimates based on the applied extrapolation methods.
Validation: Checking the accuracy and reliability of the generated predictions by comparing them to actual data or historical values.
Examples of extrapolation methods include: