Time Series Analysis - A Beginner’s Guide with statsmodels
Time series analysis is a powerful statistical method used in many industries, such as finance, healthcare, energy, and marketing.
It involves identifying patterns, trends, seasonality, and irregularities in data observed over different time periods. These methods are useful for understanding the underlying structure and patterns in the data.
In this guide, we will go into the details of time series analysis. In addition to the basic concept, we introduce popular time series techniques. We also demonstrate how to perform a time series analysis with a practical example.
As a data scientist, it’s essential to delve into the world of time series data! Our guide will take you on this exciting journey.
We’ll discuss the following points:
- What is Time Series Analysis?
- Time Series Basics
- Elements of Time Series Data
- Important Time Series Concepts & Terms
- Time Series Analysis Methods
- Limitations of Time Series Analysis
- Use Cases for Time Series Analysis
- Introduction to statsmodels
- Setup and technical requirements
- Practical Example with economic data
- Conclusion
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