How to fit a time series model? State all the steps you would follow.

Question

Accepted Answer

Steps to fit a time series model

Identify the time series pattern
Choose a suitable model
Split data into training and testing sets
Fit the model to the training data
Evaluate model performance on testing data
Refine the model if necessary
Forecast future values using the model

Accepted Answer

For the time series dataset, we often use RNN or its variants, this may many to one kinds of problems like the prediction of stock price given the data of previous days.

split the dataset into training and testing sets use the training set to train the model check its accuracy and tune the hyperparameters like the number of epochs, batch size, number of layers and learning rate.

1. split the data into train and test sets and also check whether the data is imbalanced or not.

design the model and train it on the training set.

check its accuracy and calculate errors and backpropagate the error
updates the parameters until it gives a satisfactory result.
evaluate the model onto the test dataset, is it overfit the data?
use regularization to prevent overfitting, use l2 and drop out.
and use for unseen data points.

How to fit a time series model? State all the steps you would follow.

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