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I found the distribution of my data with "distfit" library for python. But what now? The best distribution that describes my data is "weibull" distribution. But I don't know what can I do with this knowledge. Can someone help?

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    $\begingroup$ What is it exactly that you're trying to do? Why do you want to find out the distribution of your data in the first place? $\endgroup$
    – Oxbowerce
    Oct 27, 2022 at 13:50
  • $\begingroup$ @Oxbowerce i have no idea. This is the reason I am asking this question. I am trying to make my "time series forecasting model" work better. While researching I was seeing the term "distribution of data" a lot. I decided to learn what is the distribution of my data, after learning I researched what can I do with this information, but I couldn't find anything so I decided to ask it here. SO BASICALLY; I want to learn how I can make my forecast/prediction better/how can i make my models work better with the knowledge of the distribution of my data. $\endgroup$
    – Canovich
    Oct 27, 2022 at 13:54

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Imho there's probably nothing to do with this information, especially considering only the technical side of it.

It's highly subjective, but I think that what people mean when they say to "know the distribution of your data" is that it is useful to have an intuitive understanding of what your data consists of: main stats, characteristics, how much variance, imbalance, important patterns between variables, etc. This information, put together with the expert knowledge related to the specific task at hand, would normally help an experienced data scientist decide the design of the system (what kind of algorithm, preprocessing, etc.).

But it's not a recipe, you can't expect to follow deterministic steps like with a manual. It's more an analysis depending on the context, the time one wants to spend, etc. My advice for improving the performance of any system: start by investigating a sample of the errors it makes. See if these errors are preventable (they might not be), and if yes what prevents the system to find the correct answer.

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