If you are interested in making forecasts about a future outcome, time series is the tool for this. Time series data is a collection of observations recorded at specific intervals, such as an hourly weather report or a daily inventory and sales report. Time series give us tools to understand historical data and use it to forecast the future with greater certainty. For example, I am personally grateful to all those scientists who created the weather forecasting application through the study of time series and to companies like amazon who rely on their sales forecasts to better allocate inventory so that I can receive my order of amazon as soon as possible. !
It is true that there are several time series tutorials available online, but I still decided to write this post because of the following contributions:
- Build foundation: Rather than assume that the reader is familiar with time series, we will delve deeper into introducing the fundamental concepts related to time series to better understand the topic and follow it.
- Construction width: Once readers are familiar with the basic knowledge needed to appreciate time series, we present 10 different time series forecasting methods that can be used…
