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Meaning / Definition of

Exponential Smoothing

Categories: Operation and Production,

—forecasting method that is essentially a variation of a weighted moving average. The data inputs to the exponential smoothing include the previous period’s demand, the previous period’s forecast, and a smoothing factor. The smoothing factor is a number between zero and one (0.01, 0.02, . . . 0.99) that is used to weight the most recent period’s demand against the forecast for that period to produce the next period’s forecast. The calculation is [Next period forecast]=([Previous period’s demand]*[smoothing factor])+([Previous period’s forecast]*(1-[smoothing factor] See article on Exponential Smoothing.

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Definition / Meaning of

Hacker

Categories: Business and Management,

Nowadays the word hacker commmonly refers to a person who breaks into or 'hacks' into the secure computer systems of an organization, especially websites and online systems, using online connection, often just as a technical challenge, or potentially with intent to steal, destroy, vandalise information, websites, etc. Originally however the terms hack and hacker referred to a person who enjoyed exploring and experimenting - perfectly legitimately and legally - with computer code and related computing systems, out of curiosity or for purposes of technical challenge and improvement, discovery, etc. This is an example of how language and meanings evolve over time, particularly when a term becomes distorted for dramatic effect by mass media. Be aware in this case therefore, that some people - especially original 'old-school' hackers and computer code enthusiasts could be offended and unjustly maligned by the criminal implication of the common illicit hacking interpretation. Incidentally among coding enthusiasts the original technical term for a criminal 'hacker' was a 'cracker'. (Thanks to Vit Kavan, an 'old-school' hacker, for help in for clarifying this entry.)

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