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Traffic Prediction is the process of predicting future network traffic based on the characteristics of the past traffic. It has wide applications in the realm of networking, as it enhances the overall network performance through better resource utilization. Rapid advancements in the hardware, storage and video compression technologies enable the user to access video contents in a ubiquitous fashion. If the resources are allocated according to the peak rate of the video traffic, no packet loss occurs, but a substantial amount of the resources are wasted during transmission. On the other hand, if the bandwidth is not allocated close to the peak rate, large delays and excessive packet loss may be experienced.
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