What is time series analysis?

timeseries

#1

Hi,

I’ve read the name of Time Series Analysis many times but have no idea what it is. What exactly is it and how is it used in data science?

Thanks


#2

@adityashrm21,

Time series is a sequential set of data points, measured typically over successive times. It is mathematically defined as a set of vectors x(t),t = 0,1,2,… where t represents the time elapsed [21, 23, 31]. The variable x(t) is treated as a random variable.

Tavish has written a series of article in Time Series.

Useful article


#3

@adityashrm21

During analysis, you may get some data, which might be related with time.

For ex. Sale of a company. or Temperature of Mumbai
All this kind of data are associated with Time. (Time is playing very important role)

It might be possible that, there may be some Trend, Seasonality,Randomness, Cycles, white noise might be there in data. while you are playing with such kind of data, It it recommended that you have introductory knowledge of “Time Series Analysis”

you can refer to this course for better and detailed understanding of time series modelling.
https://onlinecourses.science.psu.edu/stat510/

Feel free to ask if you come across any query.

Regards
Harshil