Seasonali ty : this means that there are seasonal variations that repeat over a specific time period, for example, each day, week, month, or year.Trends: this means that variations in the data move up or down in trends or reasonably predictable patterns.
#Time sequence analysis series#
Level: this refers to the average, baseline value of a time series as if it were a straight line.Time series also consists of 4 main components: It should be noted that the time intervals between each data point are most often gathered at regular intervals, although they can also be irregular. This means that each numeric data point is paired with a timestamp and one or more labeled dimensions associated with the metric. One important difference about time series data is that time is not just a metric (like the piece of data being collected), but rather it is the primary axis. Variable: this means the metric changes over time.Measurable: this means that you can assign a numeric value to it.A “metric”, in this case, refers to the piece of data that is tracked at each increment of time.Ī time series metric has two main features: The different types of time series metricsĪ time series is a sequence of sequential data points that occur over a particular interval of time.From the heights of oceans tides each hour, a company’s daily sales revenue, or a country’s annual inflation rate, time series metrics play an extremely important part of our everyday lives.
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