What is meant by Analysis over time?
The term "time series analysis" refers to the examination of data or information over a specific period to identify trends, patterns, or changes. This type of analysis enables businesses to understand developments, make forecasts, and make informed decisions.
Typical software functions in the area of "time series analysis":
- Data visualization: Creation of charts, graphs, and dashboards to display time series.
- Trend analysis: Identification and calculation of long-term trends in the data.
- Seasonal adjustment: Removal of seasonal fluctuations to recognize the underlying trend.
- Forecasting models: Use of statistical methods to predict future developments.
- Comparative analysis: Comparison of time periods to determine changes.
- Anomaly detection: Identification of unusual deviations or outliers over time.
Examples of "time series analysis":
- Sales development: Analysis of monthly sales over several years.
- Productivity tracking: Monitoring employee productivity over the course of weeks.
- Customer satisfaction: Evaluation of customer ratings over an extended period.
- Inventory management: Analysis of stock changes in different seasons.
- Energy consumption: Investigation of a company's electricity consumption over daily and yearly cycles.
- Website traffic: Evaluation of visitor numbers to a website over months or years.