1 00:00:01,680 --> 00:00:08,650 Before diving into how forecasting is to be done, let's cover the definition of Time, Cities and Time 2 00:00:08,650 --> 00:00:17,220 series forecasting First Time Cities is simply a series of data points where time order. 3 00:00:18,840 --> 00:00:23,760 This means that we pick one or more variables and know their values over time. 4 00:00:25,710 --> 00:00:28,260 Here are some examples of time to these data. 5 00:00:29,760 --> 00:00:34,470 The first table shows profit over last five years, 6 00:00:37,770 --> 00:00:41,440 so you can see profit from 2001 to 2005. 7 00:00:42,090 --> 00:00:47,670 And for each year we have the profit value in the second table. 8 00:00:48,720 --> 00:00:52,950 We have data noted for temperature for every five minutes. 9 00:00:53,940 --> 00:00:55,620 This is and other times it is. 10 00:00:57,240 --> 00:01:00,390 But the third example is not four times it is. 11 00:01:00,720 --> 00:01:02,040 It is cross-sectional data. 12 00:01:02,960 --> 00:01:10,080 Cross-sectional data is a set of measurements taken at one point in time or time is not considered as 13 00:01:10,080 --> 00:01:10,620 a factor. 14 00:01:12,720 --> 00:01:19,620 For example, in this third day, will we have latitude and temperature values of different cities? 15 00:01:20,190 --> 00:01:27,750 These maybe have been noted for one particular time period to time cities is simply a series of data 16 00:01:27,750 --> 00:01:28,170 points. 17 00:01:28,620 --> 00:01:39,510 With Time 90s forecasting is use of model to predict future values based on previously observed values. 18 00:01:40,800 --> 00:01:47,820 So we will look at actual historical values in the cities and try to build a model that can predict 19 00:01:47,820 --> 00:01:50,790 values based on these historical values. 20 00:01:52,590 --> 00:01:56,520 For example, this is previous year's sales performance. 21 00:01:57,420 --> 00:02:01,770 Future sales forecast can be generated for the coming time period. 22 00:02:03,360 --> 00:02:08,970 We are going to see different types of models that can help us make these predictions.