Humans involuntarily behave like other similar humans around them. The task for marketing analytics is to identify groups of people similar in their attributes to learn more about them. This method is also referred to as look-alike-modeling. This helps businesses to devise a sound marketing strategy for different groups of people based on their needs and consumption pattern.
In this use case, we will carry out time series analysis for a manufacturing operation. Time series analysis and modeling have many business and social applications. It is extensively used to forecast company sales, product demand, stock market trends, agricultural production etc.