In business, you need to know how your business is doing day-to-day. In order to understand the health of your company, many turns to data analytics. Time series analysis can give valuable insight into what has happened over the course of days, weeks, months, or even years. With this form of analytics, you can learn if your company is making more money during the summer months or at the beginning of the fiscal year. You can also analyze weather data to see if winter storms caused any loss in revenue.
Some questions that time series analysis can answer are: How many customers come into the store every day? How much revenue has the business generated over the last few weeks? What is the probability of rain tomorrow? It could be helpful in planning future actions, saving money, and ensuring quality.