Yes, we can apply a linear regression algorithm for doing analysis on time series data, but the results are not promising and hence is not advisable to do so.
The reasons behind not preferable linear regression on time-series data are as follows:
- Time series data is mostly used for the prediction of the future but in contrast, linear regression generally seldom gives good results for future prediction as it is basically not meant for extrapolation.
- Moreover, time-series data have a pattern, such as during peak hours, festive seasons, etc., which would most likely be treated as outliers in the linear regression analysis.