Book Image

Codeless Time Series Analysis with KNIME

By : KNIME AG, Corey Weisinger, Maarit Widmann, Daniele Tonini
Book Image

Codeless Time Series Analysis with KNIME

By: KNIME AG, Corey Weisinger, Maarit Widmann, Daniele Tonini

Overview of this book

This book will take you on a practical journey, teaching you how to implement solutions for many use cases involving time series analysis techniques. This learning journey is organized in a crescendo of difficulty, starting from the easiest yet effective techniques applied to weather forecasting, then introducing ARIMA and its variations, moving on to machine learning for audio signal classification, training deep learning architectures to predict glucose levels and electrical energy demand, and ending with an approach to anomaly detection in IoT. There’s no time series analysis book without a solution for stock price predictions and you’ll find this use case at the end of the book, together with a few more demand prediction use cases that rely on the integration of KNIME Analytics Platform and other external tools. By the end of this time series book, you’ll have learned about popular time series analysis techniques and algorithms, KNIME Analytics Platform, its time series extension, and how to apply both to common use cases.
Table of Contents (20 chapters)
1
Part 1: Time Series Basics and KNIME Analytics Platform
7
Part 2: Building and Deploying a Forecasting Model
14
Part 3: Forecasting on Mixed Platforms

Chapter 5: Time Series Components and Statistical Properties

In the introductory chapters, we defined some basic features of the Time Series and learned how to describe them graphically. Now, before going into the challenging methodologies used to build a real forecast based on algorithms of different types, it is necessary to cover some properties of Time Series in detail—properties that will be important to better apply and understand the forecasting models of the following chapters.

As you may have guessed in the previous pages of the book, learning to use data from a Time Series and, above all, creating a reliable forecast of the same for the future, depends heavily on the ability to fully understand the temporal dynamics of the process underlying the data. What is the non-random structure that can be extracted from the observations? What are the measurable regularities over time? What is the relationship between the observation at time (t) and the observation at time...