Forecasting for Business - Blog

Sometimes, I am referring to statistical learning and some other time, I am referring to statistical forecasting. In the situation of Lokad, the two terms means roughly the same thing: the statistical theory used to produce the time-series forecasts.

Beyond the narrow scope of the Lokad, statistical learning refer to a more general theory that actually includes time-series forecasting, but also the wide spectrum of applications that can be found in machine learning.

Also, statistical forecasting is distinguished from forecasting (no adjective here), because historical data analysis is only one of the approaches that can be used to forecast the future.