Time Series - Applications

We discussed time series analysis in this tutorial, which has given us the understanding that time series models first recognize the trend and seasonality from the existing observations and then forecast a value based on this trend and seasonality. Such analysis is useful in various fields such as −

  • Financial Analysis − It includes sales forecasting, inventory analysis, stock market analysis, price estimation.

  • Weather Analysis − It includes temperature estimation, climate change, seasonal shift recognition, weather forecasting.

  • Network Data Analysis − It includes network usage prediction, anomaly or intrusion detection, predictive maintenance.

  • Healthcare Analysis − It includes census prediction, insurance benefits prediction, patient monitoring.