1 Answer
A **time series** is a sequence of data points collected or recorded at specific, evenly spaced intervals over time. The key thing about time series data is that the order of the data points matters because each point represents a snapshot at a particular time.
For example:
- Stock prices recorded every day.
- Temperature measurements taken every hour.
- Daily sales data of a product.
In a time series, the focus is often on patterns or trends that evolve over time, like detecting seasonal changes, long-term trends, or sudden spikes or drops in the data.
Time series analysis helps us understand the past and make forecasts or predictions for the future based on historical patterns.
For example:
- Stock prices recorded every day.
- Temperature measurements taken every hour.
- Daily sales data of a product.
In a time series, the focus is often on patterns or trends that evolve over time, like detecting seasonal changes, long-term trends, or sudden spikes or drops in the data.
Time series analysis helps us understand the past and make forecasts or predictions for the future based on historical patterns.