Exponential Smoothing predicts a value that is based on the forecast for the prior period, adjusted for the error in that prior forecast.The Descriptive Statistics tool generates a report of univariate statistics for data in the input range, providing information about the central tendency and variability of the data.The Covariance tool can be used in the same setting as Correlation when you have N different measurement variables observed on a set of individuals, and like Correlation, it will give you an output table (matrix) that illustrates the covariance between the two variables. This tool examines a pair or measurement variables and determines whether they tend to move together, or correlate.
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