Time series can be seasonal. What does this mean? It means that our data exhibits a season or cycle that regularly repeats, for example, weekly, monthly or annually. There is something important to note. The presence of a cycle structure does not mean seasonality. For this cycle to be seasonal Read more…
ARIMA models are a simple but powerful way of modelling time series. They were introduced in the previous article, however, their parameters must be selected correctly for them to offer accurate forecasting. An ARIMA(p,d,q) model is defined by three parameters: p : autoregressive order d : difference order q : Read more…
A time series is a series of data points ordered in time. Time is often the independent variable and the objective is usually to make a forecast for the future. It has many applications, some of which are forecasting sales, stock prices, temperatures or even the number of COVID cases! Read more…