My new forecasting textbook

After years of saying that I was going to write a book to replace Makridakis, Wheelwright and Hyndman (1998), I’m finally ready to make an announcement!

My new book is Forecasting: principles and practice, co-authored with George Athanasopoulos. It is available online and free-of-charge. We have written about 2/3 of the book so far (all of which is already available online), and we plan to finish it by the end of 2012. We hope to make a print version of the book available on Amazon in early 2013.

This textbook is intended to provide a comprehensive introduction to forecasting methods and present enough information about each method for readers to use them sensibly. We don’t attempt to give a thorough discussion of the theoretical details behind each method, although the references at the end of each chapter will fill in many of those details. We use R throughout the book and we intend students to learn how to forecast with R.

The book has it’s own R package: fpp. This contains all the data sets used in the book, and also loads a few other packages that are necessary to complete the examples.

The book is different from other forecasting textbooks in several ways.

  • It is free and online, making it accessible to a wide audience.
  • It is based around the forecast package for R.
  • It is continuously updated. You don’t have to wait until the next edition for errors to be removed or new methods to be discussed. We will update the book frequently.
  • There are dozens of real data examples taken from our own consulting practice. We have worked with hundreds of businesses and organizations helping them with forecasting issues, and this experience has contributed directly to many of the examples given here, as well as guiding our general philosophy of forecasting.
  • We emphasise graphical methods more than most forecasters. We use graphs to explore the data, analyse the validity of the models fitted and present the forecasting results.


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  • Tal Galili

    Congratulations Rob, thank you for writing such a book (this is far from my current research – but I am happy it exists for when I will need it)


  • Andrew Z

    Thank you! I am learning statistics and hope to dig into forecasting and time series to apply at the non-profit where I work.

  • imbenzene

    Looking for the second book. Seems to be as promising as the first one.

  • Abiao

    Congratulations! This is the first R package on forecasting that I find comprehensive, well done.

  • Jeannie Chirayus

    I have read couple of the chapters well written, can’t wait until it’s completed

  • Christian

    Wonderful resource for learning forecasting and R. Thanks a ton; I’ll be back to this site frequently.

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  • Tal Galili

    Congratulations Rob, and good luck!

  • R lover

    Well done Rob, keep working hard!

  • Holger K. von Jouanne-Diedrich

    Congrats! Will there be a kindle version? This would be great!

    • Rob J Hyndman

      I would love to publish a kindle version, but currently kindle does a very poor job of handling mathematics. So unless Amazon improves the format, or I learn how to get around the limitations, it is unlikely to happen in the near future.

      • Schultz

        Is the book out yet? I’ve seen a few Kindle books that do a good job of displaying both math and code.

        • Rob J Hyndman

          The print version is still on track to come out this year. The kindle version may follow if it looks ok. Amazon may have improved things since I last looked.

  • Narasimhan KV

    A great book sir!

  • A.M.jaber

    I am new to time series area I would like to ask about, How I can extract trend from stock market data using wavelet with R cod

  • Prasanna

    Would like to see a “subject index” at the end of the book. Excellent book!!

  • Gonzalo Andrés Moreno Gómez

    Regards from Colombia. Great book. I do not know about forecasting, but I am learning. However, I have a question about the metodology or procedure to find the best forecasting: If I want to get the best forecast, why to look for if the model has trend or cycles, when I can choose the model with the lowest RMSE?

    • Rob J Hyndman

      The model with the lowest RMSE will not necessarily give you the best forecasts. This is discussed in the book.