Thread by @daansan_ml

Time Series can be used for a variety of applications.

Here you have 5️⃣ applications or possible projects where Time Series Forecasting is key!

#DataScience #MachineLearning #Python #AI

1️⃣ Forecasting demand for a product or service:

This could involve collecting historical data on the quantity of a product or service sold, and using time series techniques to forecast future demand.

2️⃣ Predicting stock prices:

This could involve collecting historical data on the closing price of a stock, and using a time series model to make predictions about future prices.

3️⃣ Forecasting the weather:

For example, forecasting the temperature, precipitation, and wind speed.

This could involve collecting historical data on weather variables, and using a time series model to make predictions about future conditions.

4️⃣ Predicting traffic volume:

This could involve collecting historical data on the number of vehicles that pass a certain point over time, and using a time series model to make predictions about future traffic volume.

5️⃣ Forecasting energy consumption:

Time series modelling can be used to predict energy consumption for a building or a community.

This could involve collecting historical data on energy consumption, and using a time series model to make predictions about future energy needs.

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