time series forecasting

Time series forecasting involves analyzing data points collected over time to identify patterns or trends. By understanding these patterns, we can make informed predictions about future values. For example, examining past sales data helps businesses forecast future sales, enabling better planning. The process uses statistical methods to account for factors like seasonality, trends, or irregular fluctuations. It's widely used in areas like finance, weather prediction, and inventory management to anticipate upcoming changes and support decision-making.