Trends
Explore how to identify and interpret trends in time series data using Python's statsmodels library. Learn to decompose data into trend, seasonality, and residual components to understand long-term patterns and improve forecasting accuracy.
We'll cover the following...
We'll cover the following...
Identifying trends
A trend is a long-term change in data that exists despite the small variations from data point to data point. Although there is no formal limit, if we have a whole year of data, an increase or decrease that lasts for many months could already be considered a trend. It is also possible that ...