Time series analysis comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series forecasting is the use of a model to predict future values based on previously observed values.Whether we wish to predict the trend in financial markets or electricity consumption, time is an important factor that must now be considered in our models. For example, it would be interesting to forecast at what hour during the day is there going to be a peak consumption in electricity, such as to adjust the price or the production of electricity.
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