Time series analysis is a mathematical analysis of the data that have been occured in a specific or different time interval.
In new environment of business it is important for manager to know abput the nearby future. What may be happrn in next future. An investor should know if investment will return with profit or not? He must have to do a risk analysis.
A farmers have to know the next year will be drought or not?
The department of disaster management have to know that if it any posibility of cyclone in next year or not?
In order to guess the future they have to do forcasting. Forcasting is a method of guessing about the futures uncertainty.
Time series analysis is an effective mathematical model of forcasting.