Forecasting auto sales using Time Series Analysis.
Powerful method using which we can ‘forecast things’ ahead of time based on previously recorded trend. As the name suggests, it involves working on time (years, days, hours, minutes) based data, to derive hidden insights to make informed decision making.
Time series models are very useful models when you have serially correlated data. Most of business houses work on time series data to analyze sales number for the next year, website traffic, competition position and much more.
U.S. Bureau of Economic Analysis, Motor Vehicle Retail Sales: Domestic Autos, retrieved from FRED, Federal Reserve Bank of St. Louis