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What is Time Series Analysis?

In Statistics, signal processing and mathematical finance, a time series is a sequence of data points, measured typically at successive times spaced at uniform time intervals. Examples of time series are the daily closing value of the Dow Jones index or the annual flow volume of the Nile River at Aswan.

Time Series analysis comprises methods for analyzing time series data in order to extract meaningful statistics and other characteristics of the data. Time series forecasting is the use of a model to forecast future events based on known past events: to predict data points before they are measured. An example of time series forecasting in econometrics is predicting the opening price of a stock based on its past performance.

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 ordering of the observations (e.g. explaining people's wages by reference to their education level, where the individuals' data could be entered in any order). Time series analysis is also distinct from spatial data analysis where the observations typically relate to geographical locations (e.g. accounting for house prices by the location as well as the intrinsic characteristics of the houses).

A Time Series model will generally reflect the fact that observations close together in time will be more closely related than observations further apart. In addition, time series models will often make use of the natural one-way ordering of time so that values for a given period will be expressed as deriving in some way from past values, rather than from future values (see time reversibility.)

Methods for time series analyzes may be divided into two classes: frequency-domain methods and time-domain methods. The former include spectral analysis and recently wavelet analysis; the latter include auto-correlation and cross-correlation analysis.

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  • With a PhD in Stats from the Victoria University of Wellington he is currently working as a lecturer in one of the leading universities of New Zealand. He has also published many articles in the leading statistical journals of Australia and New Zealand. He is well acknowledged and appreciated as an eminent scholar in the Stats world. His research and reference work is well suited for advanced level students who are looking for help with their thesis and dissertation writing on Time Series Analysis.
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Time Series Assignment Help

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Time Series Assignment Help

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