Introduction to Time Series Modelling - Time Series and Stationarity concept (2022)
Let us understand what exactly is a time series data and the concept of stationarity of time series and we will see some related concepts related to both of these right.
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🔹 Introduction to Time Series Modelling - Time Series and Stationarity concept (2022)
So, what exactly is a time series you take any data if you are collecting it at regular time intervals, then that becomes a time series data it doesn't matter what frequency you are collecting, it could be collecting it on a daily basis on a weekly basis on an hourly basis, every second it doesn't matter, as long as you are collecting it at regular intervals, then it is called a time series right?
What are some typical examples a very common a very, very practically used time series data is the stock price data. stock price data typically, you will see that a daily level right on a daily basis, you will see what is the maximum minimum price of a stock, what is the closing price, what is the opening price and such, it is not mandatory that stock price needs to be daily It can also be at monthly level even yearly level.
But typically you will see that daily level. Another example could be weather data. Another one the sales data sales data, sales data is economically and commercially very important.
Let me know in the comments section if you have any questions!
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