@article{2977826, title = "Forecasting: theory and practice", author = "Petropoulos, F. and Apiletti, D. and Assimakopoulos, V. and Babai, M.Z. and Barrow, D.K. and Ben Taieb, S. and Bergmeir, C. and Bessa, R.J. and Bijak, J. and Boylan, J.E. and Browell, J. and Carnevale, C. and Castle, J.L. and Cirillo, P. and Clements, M.P. and Cordeiro, C. and Cyrino Oliveira, F.L. and De Baets, S. and Dokumentov, A. and Ellison, J. and Fiszeder, P. and Franses, P.H. and Frazier, D.T. and Gilliland, M. and Gönül, M.S. and Goodwin, P. and Grossi, L. and Grushka-Cockayne, Y. and Guidolin, M. and Guidolin, M. and Gunter, U. and Guo, X. and Guseo, R. and Harvey, N. and Hendry, D.F. and Hollyman, R. and Januschowski, T. and Jeon, J. and Jose, V.R.R. and Kang, Y. and Koehler, A.B. and Kolassa, S. and Kourentzes, N. and Leva, S. and Li, F. and Litsiou, K. and Makridakis, S. and Martin, G.M. and Martinez, A.B. and Meeran, S. and Modis, T. and Nikolopoulos, K. and Önkal, D. and Paccagnini, A. and Panagiotelis, A. and Panapakidis, I. and Pavía, J.M. and Pedio, M. and Pedregal, D.J. and Pinson, P. and Ramos, P. and Rapach, D.E. and Reade, J.J. and Rostami-Tabar, B. and Rubaszek, M. and Sermpinis, G. and Shang, H.L. and Spiliotis, E. and Syntetos, A.A. and Talagala, P.D. and Talagala, T.S. and Tashman, L. and Thomakos, D. and Thorarinsdottir, T. and Todini, E. and Trapero Arenas, J.R. and Wang, X. and Winkler, R.L. and Yusupova, A. and Ziel, F.", journal = "International Journal of Forecasting", year = "2022", publisher = "Elsevier B.V.", issn = "0169-2070", doi = "10.1016/j.ijforecast.2021.11.001", abstract = "Forecasting has always been at the forefront of decision making and planning. The uncertainty that surrounds the future is both exciting and challenging, with individuals and organisations seeking to minimise risks and maximise utilities. The large number of forecasting applications calls for a diverse set of forecasting methods to tackle real-life challenges. This article provides a non-systematic review of the theory and the practice of forecasting. We provide an overview of a wide range of theoretical, state-of-the-art models, methods, principles, and approaches to prepare, produce, organise, and evaluate forecasts. We then demonstrate how such theoretical concepts are applied in a variety of real-life contexts. We do not claim that this review is an exhaustive list of methods and applications. However, we wish that our encyclopedic presentation will offer a point of reference for the rich work that has been undertaken over the last decades, with some key insights for the future of forecasting theory and practice. Given its encyclopedic nature, the intended mode of reading is non-linear. We offer cross-references to allow the readers to navigate through the various topics. We complement the theoretical concepts and applications covered by large lists of free or open-source software implementations and publicly-available databases. © 2021 The Author(s)" }