Analysis of time series and it's uses

              ANALYSIS OF TIME SERIES
Definition:
 A time series is a set of observations arranged in
chronological order.
The essential requirements of a time series are:
1. The time gap between various values must be as far as possible
equal.
2. It must consist of a homogeneous set of values.
3. Data must be available for a long period.

Uses of Time Series:
1. It helps in understanding past behaviour and it will help in
estimating the future behavior.
2. It helps in planning and forecasting. It is very essential in
business and economics.
3. Comparison between data of one period with that of another
period is possible.
4. We can evaluate the progress in any field of economic and
business activity.
5. Seasonal, cyclical, secular trends of data is useful not only to
economists but also to the businessman.
      
                    Thank you
M.Divya prabhu
I-B.com
23UCM008
                           

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