Who can choose proper ARIMA orders?
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In this paper, we’ve been studying various aspects of time series forecasting. For instance, we’ve analyzed seasonal and non-seasonal series, how to handle missing data, ARIMA models for forecasting, and much more. However, our main focus today is on ARIMA orders. ARIMA (autoregressive integrated moving average) is a popular statistical model for forecasting time series data. Here, we discuss various ARIMA orders, how to choose them wisely, and why choosing the wrong one can lead to poor performance.
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1. Data Scientist (or any analytics enthusiast) Data Scientists and other analytics professionals are the experts of all kinds of mathematical models that are used to analyze time series data. They are the experts of ARIMA models for time series analysis. 2. Economist Economists are the experts of time series analysis that help them understand business and economic time series data. They are the experts of ARIMA models as well. 3. Financial analyst Financial analysts use time series data to forec
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