Instructions: Use this Time Series Plot Maker to create a time series plot using the form below. All you have to do is type (or paste from Excel) your Y data (and optionally your time stamp). Also, you can optionally add a title a name to the axes.
What Do You Need to Know About this Time Series Plot Maker
More about the Time Series Graph Analysis : A time series is a type of data that is longitudinal in nature, which can be used to analyze trends and patterns, and to create model and ultimate predictions, based on the historical behavior of the data.
The most common time series analysis techniques are moving averages, exponential smoothing and linear trend with seasonality.
What to use Time Series For
Beyond the simple models, some extremely complex time series analysis can be computed, depending of the complexity of the behavior and patterns exhibited by the time series data.
Also, the accuracy of time series forecasting depends on the complexity of the data and the appropriateness of the model used.
What Can You Learn From a Time Series Plot?
A series of data that has a time series nature will allow you to potentially uncover different types of variation that occur specifically on time series data.
For example, time series data can you a trend behavior in time, which could be a downtrend or uptrend. A time series plot can help you immediately identify this kind of pattern.
But that is not the only possible source of variation in a time series, you also could observe what is called seasonal variation. That's what you would see for a theme park for example, where sales revenue is likely do vary with the seasons (Spring, Summer, Fall, Winter).
There are other types of variation sources for time series, which are the cyclical and irregular components, which are also observable in a time series plot.
Time Series Formula
There is a formula, or rather a model, that considers the 4 times of variation for times series: trend (\(T_t\)), seasonal (\(S_t\)), cyclical (\(S_t\)) and irregular (\(I_t\)). The formula for the model is\[Y_t = T_t \cdot S_t \cdot C_t \cdot I_t \]