General time series
A time series is the sequence of data usually collected at regular intervals. There are a lot of domains where information is stored in time series form and needs to be analyzed for future planning.
For example, in the financial domain, we have the daily/monthly data available for unemployment, GDP, daily exchange rates, share prices, and so on. So all the investors or the people working in financial institutions need to plan their future strategy and so they want to analyze the time series data. Thus time series play a crucial role in the financial domain.
Time series data is very unpredictable in nature and to understand the data we need to decompose the time series data into various components, as given here:
- Trend: This is a pattern of long-term movements in the mean of time series data. The trend may be linear or nonlinear and keeps changing across time. There is no sure process to identify the exact trend but if it is behaving monotonously then it is possible to...
