What is the utility of time series analysis?


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  • It helps in understanding past behavior- by observing data over a period of time one can easily understand what changes have been taken place in the past. This analysis will be extremely helpful in predicting the future behavior.
  • It helps in planning future operations- plans for the future can not be made without forecasting events and relationship they will have. Statistical techniques like time series helps to make decision for future.
  • It helps in evaluating current accomplishments.- The actual performance can be compared with the expected performance and the cause of variation analyzed
  • It facilitates comparison– Different time series are compared and important decisions are concluded.
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BMS Team

We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

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