Free open-source forecasting using R

 

Summary

• R is a free open source statistical computing environment which can be used for forecasting. It is available at www.r-project.org.
• Advantages of R include its (zero) price, the large number of user-contributed packages, its production-quality graphics and the possibility of extending it by linking fast compiled C/C++/Fortran code.
• Disadvantages of R include a steep learning curve and a certain slowness when dealing with truly massive amounts of data.
• R can be used to advantage by forecasters with a technical background who are comfortable with the command line and who may want to use R for additional Business Intelligence analyses and graphics beyond forecasting.

Cite

@article{KH10,
  author  = {Stephan Kolassa and Rob J Hyndman},
  journal = {Foresight: the International J Applied Forecasting},
  pages   = {19--24},
  title   = {Free open-source forecasting using {R}},
  volume  = {17},
  year    = 2010
}