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It is the most popular method of business forecasting and discussed in detail. Time series analysis is of great significance in business. Those are:

1.It helps in the understanding of past behavior. By observing data over a period of time one can easily understand what changes have taken place in the past. Such analysis will be extremely helpful in predicting the future. 

2.It helps in future operations

3.It helps in evaluating current accomplishments
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4.It facilitates comparison.