Can Machine Learning Outperform Statistical Models for Time Series Forecasting?

The role of Time Series Forecasting is very important in areas like finance, manufacturing, health, weather studies, and social sciences. These­ fields rely on these predictions to guess future needs and sale numbers. This helps them fine-tune their stock, boost the efficiency of their supply chain. It allows them to make smart choices in financial, marketing, and risk-related areas. Hence, precise forecasting is a must for businesses to adapt to market shifts and stay ahead of competitors.

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