Why is time series analysis important in the field of data science?
The world where digitalization is the new reality, statisticians are pretty much occupied with analyzing the patterns of the consumer with the help of data generated, and the easier way of doing this analysis is by time series analysis.
Time series analysis is a statistical technique that deals with time series data, or trend analysis. Time series data means that data is in a series of particular time periods or intervals. This analysis helps organizations understand the underlying causes of trends or systemic patterns over time. Using data visualizations, business users can see seasonal trends and dig deeper into why these trends occur. With modern analytics platforms, these visualizations can go far beyond line graphs.
Time series analysis is important technique to be learnt while pursuing a career in data science. This technique can be learnt through guidance. Considering the importance, the BSE Institute Ltd offers B.Sc. in Data Science course which covers the concept of Time series analysis in detail.