Time series analysis is based on analyzing the trends in the data. It consists of both modelling and forecasting. In this article, I will take you through the 4 best data science projects on time series analysis solved and explained using Python.
Data Science Projects on Time Series Analysis
We need to use time series analysis when we are working on a problem statement where time plays an important factor. So below are some of the best data science projects that are based on the problem statement of time series analysis:
- Click-Through Rate Prediction
- Covid-19 Cases Prediction
- Bitcoin Price Prediction
- Gold Price Prediction
Let’s go through all these data science projects on time series analysis one by one.
In any advertising agency, it is very important to predict the most profitable users who are very likely to respond to targeted advertisements. By predicting the click-through rate, an advertising company select the most potential visitors who are most likely to respond to the ads, analyzing their browsing history and showing the most relevant ads based on the interest of the user.
This task is important for every advertising agency because the commercial value of promotions on the Internet depends only on how the user responds to them. A user’s response to ads is very valuable to every ad company because it allows the company to select the ads that are most relevant to users.
These types of predictive models help in providing an accurate prediction of epidemics, which is essential for obtaining information on the likely spread and consequences of infectious diseases. Governments and other legislative bodies rely on these kinds of machine learning predictive models and ideas to suggest new policies and assess the effectiveness of applied policies.
Bitcoin is a decentralized network and digital currency that uses a peer-to-peer system to verify and process transactions. Recently Bitcoin has received a lot of attention from the media and the public due to its recent price hike. As Bitcoin has been viewed as a financial asset and is traded through many cryptocurrency exchanges like a stock market, many researchers have studied various factors that affect the price of Bitcoin and the patterns behind its ﬂuctuations using various analytical and predictive methods.
Several predictive methods have been studied and compared for the task bitcoin price prediction using machine learning. Here, I will be using the Facebook Prophet model for the task of Bitcoin price prediction using machine learning with Python.
Gold has always held a prominent place in the country’s economy and among the people. Gold prices have historically skyrocketed, peaking at $ 1,800 in 2020. These swings that gold has faced can be attributed to several events that occurred during the period. Stock prices are strongly correlated with public information and world events, and gold is no exception.
Unlike other financial assets, precious metals behave positively in times of crisis. Indeed, in the face of events such as epidemics, wars and economic disruption, most assets experience a decline in their value. However, in search of cover, investors are turning their attention to gold. As a result, the demand for yellow metal increases, resulting in a rise in the market valuation.
So these were some of the best data science projects based on the use cases of time series analysis that you can work on to improve your time series forecasting and modelling skills. I hope you liked this article on data science projects on time series analysis solved and explained using Python. Feel free to ask your valuable questions in the comments section below.