Is more information better for forecast accuracy? It depends!
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The more data we have the more accurate are our forecasts, typically. Unless, of course, we deal with something like a random walk model, in which case only one data point—the most recent observation—matters. In general, however, more information is better… So long as the information is relevant.
Is more information better for forecast accuracy? It depends!
Is more information better for forecast…
Is more information better for forecast accuracy? It depends!
The more data we have the more accurate are our forecasts, typically. Unless, of course, we deal with something like a random walk model, in which case only one data point—the most recent observation—matters. In general, however, more information is better… So long as the information is relevant.