A business always moves with time and leaves behind certain time-centric patterns. What decisions you make about the future for your business will be critical in deciding your success. Fortunately, these time-centric patterns can be utilized to optimize your decisions for better results by a technique called Time Series Analysis.
Data Scientists use Time Series analysis to look at historical data, identify patterns, and generate short & long term predictions on how factors that affect your business may change for the future. It is used to make important insight-driven decisions like sales & inventory prediction, decisions around pricing, etc.
In the most recent and significant use case, time series analysis has been used to create models to predict where COVID-19 cases are expected to reach in a particular region.
KNIME Analytics is a great platform to help you to make time-series analysis work for your business. It has found its use in multiple industries for data processing, ETL, data visualizations, and analysis. You can easily build time series prediction models with its GUI approach with minimal coding.
In this webinar, our Machine Learning expert will walk you through building models with time series analysis using the KNIME Analytics Platform. Join us if you’re looking to make better business decisions.