Understanding time series concepts
Time series data is typically a collection of observations measured by specific methods that are related in terms of measurement intervals. This data can come from physical or non-physical measurements. For example, room temperature can be measured using a physical device and specific time intervals. Figure 18.1 shows an example measurement.
Figure 18.1 – A room temperature measurement and time series representation
Given the data measured from a specific source, different ML tasks can be applied based on the task itself. For example, given a specific time frame, future predictions can be seen as a task, and even with a given time series, classification can be seen as a task.
Time series prediction always has been one of the most important tasks in this field. In this specific task, given the period, future values must be predicted. One of the most well-known examples is using predictive analytics to predict...
