Summary

In this chapter, we have discussed the importance of time-series analysis and its applications for marketing. From fundamental analyses of how data progresses over time and what stories and insights can be gathered from such analyses to the development of advanced time-series forecasting models, we have touched on a wide range of topics in time-series analysis. We have seen how moving averages and autocorrelations and visualizations of them play a critical role in understanding the big picture of events happening over time. We have also covered how time-series data can be decomposed into trends and seasonalities that uncover the hidden insights of cycles within businesses and different product lines. Lastly, we have experimented with two of the frequently used statistical methods of modeling the time-series data and how to make forecasts for the future that can then be used for more efficient and timely marketing campaigns. Although not discussed in depth in this chapter,...