What distinguishes a time series analysis from other types of predictive modeling?
- It considers the temporal order of data points, as they are collected over time.
- It doesn't involve predicting future events.
- It only deals with categorical variables.
- It relies on cross-sectional data.
Time series analysis distinguishes itself by considering the temporal order of data points, acknowledging the inherent time dependencies. This type of analysis is essential when dealing with sequential data and forecasting future values based on historical patterns.
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