Time Series Forecasting as Regression
In the previous part of the book, we have developed a fundamental understanding of time series and equipped ourselves with tools and techniques to analyze and visualize time series and even generate our first baseline forecasts. We have mainly covered classical and statistical techniques in this book so far. Let’s now dip our toes into modern machine learning and learn how we can leverage this comparatively newer field for time series forecasting. Machine learning is a field that has grown in leaps and bounds in recent times, and being able to leverage these newer techniques for time series forecasting is a skill that will be invaluable in today’s world.
In this chapter, we will be covering these main topics:
- Understanding the basics of machine learning
- Time series forecasting as regression
- Local versus global models
