Time series analysis helps in understanding the past behavior of a data which helps for
predicting the future behavior. It enables us to predict or forecast the behavior of the
phenomenon in future which is very essential for business planning. It helps in making
comparative study in the values of different phenomenon at different times or places. The main
objective of analyzing time series is to understand, interpret and evaluate changes in economic
phenomena in the hope of more correctly anticipating the course of future events.
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