approach Random element Moving average, simple exponential smoothing, etc. Autocorrelated stationary time series (AR/MA) Non- autocorrelated random variable + Trend element Brown’s model, Holt’s model Box-Jenkins model (ARIMA model), etc. Polynomial model, growth curve model, etc. + Cyclical elements Winters’ model Seasonal ARIMA model, etc. Trigonometric curve, seasonal adjustment, etc. Time Series Forecasting Methods Short-term Long-term