What is time series?

Answer 1

Time series helps to understand organisation the underlying causes of trends and patterns over time. Time Series is a series of data points ordered in time. In mathematics, time series is a sequence taken at successive equally spaced points in time. In simple words, it is a sequence of discrete-time data.

Uses of Time Series:

It is used for prediction or to detect the changes in patterns in collected data. Here are a few uses of time-series mentioned below:

• Used to predict future values

• Evaluation of current achievements

• Identify the changes in Economics and business

• Pattern recognition

• Weather forecasting

• Earthquake prediction

• Signal Processing

• Astronomy

• Statistics and Mathematical Finance

Time Series Analysis, Forecasting and Techniques application have become much essence and has increased in practical examples of real-life and a variety of research fields including business, economics, engineering, politics and many other fields. Time series is technique which helps in predict and forecasting future data on basis of past data. It is also important element of data science, it shows variables change over a certain period of time.

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