Time Series Analysis: A Beginners Guide with statsmodels
Last updated: September 23, 2024
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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