In the previous chapter, we learned how to handle date and time with Julia. This allowed us to understand the very important concept of time series data. Now, we are ready to discuss yet another highly important data science topic—time series analysis.
Time series analysis and forecasting represents a key strategic and decisive component of any organization, from understanding top sales periods to end of season intervals and discounts, scheduling employees' time off, budgets, fiscal years, product release cycles, increased demand in raw materials, and many, many other aspects. Understanding and predicting the evolution of various business indicators over time is a necessary part of doing business, whether we're talking about a school, a billion dollar corporation, a hotel, a supermarket, or a government.
However, time series data analysis is one of the most fairly complex tasks of data science. The nature and particularities of chronological events led to...