Time Series Analysis

Definition updated on November 2023

What is Time Series Analysis?

A particular method of analyzing a set of data points gathered over a period of time is called a "time series analysis." Time series analyzers record the data points over a set period of time at regular intervals rather than randomly or irregularly. But this kind of study involves more than just gathering data over time. Time series analysis frequently requires a large amount of data to guarantee consistency and dependability. The ability of your analysis to sort through inconsistent data and the representativeness of your sample size are both guaranteed by a large data set. Additionally, it guarantees that any trends or patterns are not outliers and can take seasonal variation into consideration. Time series data can also be employed for forecasting, which is the process of projecting future data based on historical data.

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