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Time series analysis is used to forecast future trends based on historical data from "summary" of Data Science for Business by Foster Provost,Tom Fawcett
Time series analysis is a powerful method for predicting future trends by examining historical data. This technique is particularly useful when dealing with data that is collected over time, such as stock prices, sales figures, or weather patterns. By analyzing patterns and trends in past data, we can make informed predictions about what will happen in the future. To perform time series analysis, we first need to collect a dataset that is organized in chronological order. This data could be hourly, daily, monthly, or even yearly, depending on the specific phenomenon we are studying. Once we have our dataset, we can start to look for patterns and trends that may help us predict future...
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