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Unit 3: Time Series Analysis - Coggle Diagram
Unit 3: Time Series Analysis
Reasons
Forecasting
Inferences
Feature tracking
Objectives
Study Trends
Compare new and old data sets
Detect Causality among variables
Study cross sectional Relationships
Interpret economic significance
Components of Time Series Analysis
Time Series Data
Trend
Seasonality
Cyclical Components
Irregular or Residual Components
Autocorrelation
Stationarity
Decomposition
Forecasting
Model Evaluation
Understanding a Time Series
i. Trend
ii. Seasonality
iii. Cyclical pattern
iv. Residual
What is time series
Tracks stock prices, economic data
Analyzed in economics, finance, weather
Models data over time
Variable changes over time
Shown in graphs or charts
Sequential data with regular intervals
Uses Examples
Weather data / Rainfall
Quarterly sales / Forecasting
Stock prices / automated Trading
Interest Rates
Heart Rate Monitoring (EKG)