Question

What is the difference between a causal model and a time series model?

Answer 1

Solution:

The casual model is broader within the variety of things that ar analyzed once deciding the result of the foretelling exercise. This technique is beneficial after you have to be compelled to apply many totally different elements to the analysis so as to receive a all-around forecast. The time-series model uses time to see the result of the foretelling demand. The time-series technique uses historical information over a collection amount to see the results of the foretelling. this is often helpful in an exceedingly additionalrestricted state of affairs that's basic in nature.
The casual model would be helpful in deciding the forecast of a bonus system during which many various factors ar applied to the ultimate price being distributed. The time-series model would be helpful in decidingtraffic levels in an exceedingly mercantile establishment based mostly only on time of day and no alternative|the other} factors like seasonal parts or other information.