Posted on Oct 22 Time is the most important factor which ensures success in a business. It is difficult to keep up with the pace of time but through methods of prediction and forecasting such as time Series models this is achievable.It involves working on time-based data to derive hidden insights to make informed decision making. The goal of a time series Model is usually to make a forecast for the future.To be able to come up with a time series model, certain aspects of a time series are considered such as: Is it stationery?Is there a seasonality?Is the target variable autocorrelated?Moving on, many of the ways to build a model include:Moving average - it's a model that states the next model is simply the mean of all the past observations.Exponential smoothing- uses similar logic to moving average but a less importance is assigned to each observation.Double exponential smoothing- used when there is a trend in the time series.Triple exponential smoothing- This method extends double exponential smoothing by adding a seasonal smoothing factor. Of course, this is useful if you notice seasonality in your time series.Seasonal autoregressive integrated moving average (SARIMA.)Now, SARIMA is the combination of simpler models that create a complex model that can present a time series exhibiting non-stationery properties and seasonality.It does involve:the autoregression model AR(p), basically a regression of the time series onto itself.the moving average model MA(q)order of integrationthen finally seasonality S where S is the season's length.All this combines to get the SARIMA.To put this Time Series Models into use, it is applied in:1) Determining patterns.2) Detecting anomalies.3) Forecasting future trends.Templates let you quickly answer FAQs or store snippets for re-use. Are you sure you want to hide this comment? It will become hidden in your post, but will still be visible via the comment's permalink. Hide child comments as well Confirm For further actions, you may consider blocking this person and/or reporting abuse Heechan Kim - Oct 21 Jeffrey Hicks - Oct 21 mohanaruban - Oct 21 SQL Docs - Oct 21 Once suspended, johnkyalo will not be able to comment or publish posts until their suspension is removed. Once unsuspended, johnkyalo will be able to comment and publish posts again. Once unpublished, all posts by johnkyalo will become hidden and only accessible to themselves. If johnkyalo is not suspended, they can still re-publish their posts from their dashboard. Note: Once unpublished, this post will become invisible to the public and only accessible to John Kyalo. They can still re-publish the post if they are not suspended. Thanks for keeping DEV Community safe. Here is what you can do to flag johnkyalo: johnkyalo consistently posts content that violates DEV Community's code of conduct because it is harassing, offensive or spammy. Unflagging johnkyalo will restore default visibility to their posts. DEV Community — A constructive and inclusive social network for software developers. With you every step of your journey. Built on Forem — the open source software that powers DEV and other inclusive communities.Made with love and Ruby on Rails. DEV Community © 2016 - 2023. We're a place where coders share, stay up-to-date and grow their careers.