Modern Time Series Forecasting: For Predictive Analytics and Anomaly Detection — (1) Introduction
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This is Chapter 1 “Introduction” of the book “Modern Time Series Forecasting: From Classical Foundations to Cutting-Edge Applications”.
Time series is a sequence of data at equally spaced intervals over time. It is around us in our daily lives. We derive forecasts from the time series data for various purposes. If you meet Mr. P in this story, you may find one or two persons in your life who are just like Mr. P. And you probably agree you also use time series forecasts around the clock in your life.
Mr. P is a middle-aged professional living in a busy city. He usually starts his day with a morning jog. He puts on his fitness tracker for jogging. The tracker monitors his heart rate, sleep patterns, activity levels, and other physiological parameters. His doctor told him the forecasts are based on his health data over time. The forecasts tell him if he is on the way to his fitness goals. The forecasts also alert him to…
