Forecasting Time Series with Auto-Arima

In this article, I attempt to compare the results of the auto arima function with the ARIMA model we developed in the article Forecasting Time Series with ARIMA (https://www.alldatascience.com/time-series/forecasting-time-series-with-arima/). I made this attempt to see how it works and what the differences are.The parameters selected by auto-arima are slightly different than the ones selected by me in the other article.Auto arima has the advantage of attempting to find the best ARIMA parameters by comparing the

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Forecasting time series with ARIMA

In this post, I’ll attempt to show how to forecast time series data using ARIMA (autoregressive integrated moving average). As usual, I try to practice with “real-world”, which can be obtained easily by downloading open data from government websites. I chose the unemployment rate in the European Union’s 27 member countries. The data were obtained from the OECD data portal (http://dataportal.oecd.org/). First of all, I’m going to try to clean up the data, in this

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