A method and system for scaled exponential smoothing are provided. Multiple exponentially smoothed values are maintained for items and events occur on one or more of the items. The method maintains a gradually inflated representation of the smoothed values of items, such that the representation at a given time for an item where no event has occurred is not altered. Using a scaling technique enables the smoothed values for the objects on which an event has not occurred to remain the same. This reduces the number of calculations required significantly, enabling the use of the smoothing technique in a wide range of applications.