R language uses time series analysis to predict future sales

Table of contents

foreword

data preparation

Build an ARIMA model

Forecasting Future Sales

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Today we are going to discuss how to use time series analysis to forecast future sales. Time series analysis is a statistical technique primarily used to analyze data that changes over time. In this article, we will use R language and its powerful time series analysis package forecast to make forecasts.

foreword

Forecasting future sales is important in many business decisions. For example, predicting future sales can help companies make production plans, manage inventory, and formulate sales strategies. Time series analysis provides us with a way to understand and forecast phenomena that change over time, especially for sales forecasting.

data preparation

We first need a dataset containing sales data. this