I have a classification problem where I am planning to use hourly traffic data for a day. Is there any way to compress it? instead of creating 24 predictors which account for hourly traffic?
your problem is a panel data .since you have both time and cross-section. and yes panel data methods can help you have one predictor which considers time itself. (it is kind of like considering a 23dummy variables for each time, then applying them in one equation) you can read about (panel data or longitudinal data)and choose which methods can help you. good luck