Time series analysis is a statistical method used to analyze and interpret patterns or trends within a set of chronological data points. It involves studying the variations in data over time to identify underlying patterns, predict future trends, or make informed decisions.
Time series analysis is often employed in business management to understand and forecast variables such as sales, revenue, stock prices, or economic indicators.
Various statistical techniques, including moving averages, trend analysis, and seasonality decomposition, are used in time series analysis to uncover patterns and relationships within sequential data.
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