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Time Series Analysis Helps You Identify Patterns

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Time Series Analysis Helps You Identify Patterns

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if a model has been built on historical data, it cannot be used to predict future values or trends because no one can guarantee that the historical data will remain the same as time passes.

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if a model has been built on historical data, it cannot be used to predict future values or trends because no one can guarantee that the historical data will remain the same as time passes.

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Time Series Analysis Creates the Opportunity to Clean Your Data

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Time Series Analysis Creates the Opportunity to Clean Your Data

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Time Series Forecasting Can Predict the Future

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Time Series Forecasting Can Predict the Future

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Time forecasting can predict the future 

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Time forecasting can predict the future 

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model could be over-fitted, which means that due to some random factors a model can lead to false results

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model could be over-fitted, which means that due to some random factors a model can lead to false results

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Hard to predict Random Factor's e.g Covid-19

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helps predict future sales

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Let’s you predict future patterns in the business allowing you to hire more staff if required

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Historical data can be reliable in predicting future trends

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Not only does Time Series analysis help through economic prediction, but helps to ease stress in the business as employees have hopes of higher income

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Doesn’t predict random changes in patterns I.e. when something goes out of fashion, When COVID happened

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Ignores different tastes and trends in fashion

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harder to predict random factors that may happen

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Very accurate

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Reduces the risk of unexpected surprises

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less useful for long term forecasts

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Describes the best possible fit for historical data

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Can be useful to see how an asset changes over time.

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With Trends, time series analysis is risky as trends can quickly end just as they quickly start, having businesses lose potential sales

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As it’s based on historical data it may not be reliable