forecasting data with r Part -1

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Hi guys,

Here we are discussing about Data  Forecasting with R

Forecasting is nothing but predicting future events based on historical data like predicting revenues and earth quakes etc  with time series.

Time series is a set of numerical data obtained at a regular period of time. Its consists of some components like cyclic , trend, seasonal and irregular etc.

Types of Models

There are different types of model in forecasting like
  • Moving average 
  • Holt Winters 
  • ARIMA(Box -Jenkins Method)
  • Prophet  etc.
Step -by- step Procedure of Time series Forecasting
  • Plot the data 
  • Make data stationary 
  • Identify the best model fit for the data
  • Build the model 
  • Do the Prediction  


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