Definition
A Time Series is an ordered sequence of observations recorded at successive points or intervals in time.
Human Explanation
It is data showing how a defined value changes over time.
Why it Matters
Time Series data enable analysts to investigate trends, seasonality, cycles and other temporal patterns.
Conceptual Boundary
A Time Series describes how data are organised. It is not a method of analysis, and it does not itself constitute a trend or a forecast.
Practical Perspective
Time Series are used to examine sales, demand, equipment condition, failures and market changes. Their frequency, missing periods and ordering must be preserved during preparation.
Common Analytical Sequence
Time Series provides the ordered observations. Trend Analysis examines patterns in those observations. Forecasting may use those patterns to estimate future values.