Time series components
Stephan Kolassa, Bahman Rostami-Tabar, Enno Siemsen · 2023
This chapter discusses basic time series components that a forecasting model must incorporate, like the level, the trend and seasonality. While the next chapter will discuss decomposing the time series into components more explicitly, this chapter provides a basic familiarity with these components. Plotting a time series is an excellent first step to identifying these components. This chapter describes some typical plots useful for visualizing univariate time series data. Such graphs may also surprise you by revealing unexpected data structures.