What is time series analysis with example?

Examples of time series forecasting Forecasting the closing price of a stock each day . Forecasting product sales in units sold each day for a store. Forecasting unemployment for a state each quarter. Forecasting the average price of gasoline each day.

Time series analysis is used to identify the fluctuation in economics and business . It helps in the evaluation of current achievements. Time series is used in pattern recognition, signal processing, weather forecasting and earthquake prediction.

Time series data can be classified into two types:

These four components are:

Types of time series forecasting methods include:

Identifying Patterns in Time Series Data. Interrupted Time Series . Exponential Smoothing . Seasonal Decomposition (Census I)