Practical Business Analytics Using R and Python: Solve Business Problems Using a Data-driven Approach

© Umesh R. Hodeghatta, Ph.D and Umesha Nayak 2023

U. R. Hodeghatta, U. NayakPractical Business Analytics Using R and Pythonhttps://doi.org/10.1007/978-1-4842-8754-5_12

12. Time Series: Forecasting

Umesh R. Hodeghatta¹   and Umesha Nayak²

(1)

South Portland, ME, USA

(2)

Bangalore, Karnataka, India

 

12.1 Introduction

Imagine you are an investor in the stock market and want to know how a particular stock is likely to perform in the near future. Or perhaps you are a business owner and have to predict the human resources required for the next year based on your revenue projections. Alternatively, suppose you are a government official who wants to understand how the economy of your country is likely to perform in the next quarter or year. Maybe you are a sales ...