Time series analysis is a statistical technique used to analyze and interpret data that is collected over time. This technique is widely used in various fields, such as finance, economics, engineering, and environmental sciences, to identify patterns and trends in the data.
A time series is a sequence of data points that are recorded over a specific period, typically at regular intervals. Examples of time series data include stock prices, weather patterns, and customer sales records. The analysis of time series data involves understanding the underlying patterns in the data, predicting future trends, and identifying the factors that contribute to the observed patterns.