An Intuitive Study of Time Series Analysis

A time series data is a set of observation on the value that a variable takes of different time, such data may be collected at regular time intervals such as daily stock price, monthly money supply figures, annual GDP etc. Time series data have a natural temporal ordering. This makes time series analysis distinct from other common data analysis problems in which there is no natural order of the observation. In simple word we can say, the data which are collected in according to time is called time series data. On the other hand, the data which are collected by observing many subject at the same point of time is called cross sectional data. A time series is a set of observations meas ured at time or space intervals arranged in chrono logical order.