• Time series: A time series is a series of data points indexed (or listed or graphed) in time order. A sequence taken at successive equally spaced points in time (A sequence of discrete-time data).
  • Time series analysis: Methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data.
  • Time series forecasting: The use of a model to predict future values based on previously observed values. While regression analysis is often employed in such a way as to test theories that the current values of one or more independent time series affect the current value of another time series, Time series forecasting focuses on comparing values of a single time series or multiple dependent time series at different points in time.
  • Time series modeling: It involves working on time (years, days, hours, minutes) based data, to derive hidden insights to make informed decision making.

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Decision Tree Based Classification has the following properties:

  • Inexpensive to construct
  • Extremely fast at classifying unknown records
  • Easy to interpret for small-sized trees
  • Accuracy is comparable to other classification techniques for many simple data sets
  • Unsuitable for Large Datasets because sorting continuous attributes at each node needs entire data to fit in memory.

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