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What is time series analysis in data science? 

Data Science

Imagine being able to predict the stock market’s next move, anticipate tomorrow’s weather, or even foresee your favorite sports team’s performance. This isn’t science fiction—it’s the power of time series analysis.  

Let’s demystify time series analysis a bit in a detailed way with a short story. 

By examining patterns in historical data, we can uncover hidden trends and make informed predictions. Whether you’re a financial analyst, a meteorologist, or a data enthusiast, time series analysis is key to transforming uncertainty into actionable insights.

Basics of time series

Different varieties of graphs to showcase the time series.

Types of time series data 

Understanding the different types of time series data is crucial for selecting the appropriate analytical techniques and models. Time series data can be categorized in various ways, including by the number of variables and the nature of the data points. 

types of time series data

Read more about four pillars of data science.

Time series decomposition 

Time series decomposition involves breaking down a time series into its core components: trend, seasonal, and residual. Analyzing each part separately allows for better understanding and forecasting. 

time series decomposition

Harness the power of time series analysis to turn data into actionable insights. You can elevate your analytical skills by predicting trends, understanding seasonality, and distinguishing between random noise and cyclic patterns. Whether you’re a financial analyst, meteorologist, or data enthusiast, the practical examples and innovative tools shared will be a stepping stone towards the journey of time series analysis.

Time series analysis is the integral part of a data science course’s curriculum. Online MSc in Data Science from the prestigious Manipal Academy of Higher Education (MAHE) covers time series analysis in detail and help learners acquire various knowledge and skills in statistics, analytics, and data science. Check out the program now!

Disclaimer

Information related to companies and external organizations is based on secondary research or the opinion of individual authors and must not be interpreted as the official information shared by the concerned organization.


Additionally, information like fee, eligibility, scholarships, finance options etc. on offerings and programs listed on Online Manipal may change as per the discretion of respective universities so please refer to the respective program page for latest information. Any information provided in blogs is not binding and cannot be taken as final.

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  • Online MSC Data Science

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