Summary
In this chapter, we introduced TSA, starting by defining what a time series is and then providing some examples of series taken from various contexts and industries. Next, we focused on the goals that are typically related to TSA and also provided some examples of applications in real-world scenarios. Finally, we covered a brief review of the main forecasting methods, providing a taxonomy of methodologies and generally describing the characteristics of the main models, from the most classic to the most modern.
In this chapter, the basic concepts provided are of great importance for approaching the subsequent chapters of the book in a structured way, having the concepts of time series and forecasting clear in your head.
In the next chapter, we’ll cover the basic concepts of KNIME Analytics Platform and its time series integration, introducing the software and showing a first workflow example.
