Is naive forecasting good?
I'm wondering if naive forecasting is actually effective. I've heard about it in the context of time series analysis, where it simply assumes that the next value in a series will be the same as the previous one. But is it really a reliable method?
What is the problem with naive forecasting?
Naive forecasting seems simple and straightforward, but I've heard there are issues with it. I want to understand what the main problems are with this forecasting method.