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Supply Chain Glossary - T

Supply Chain Glossary - T

time series

A set of data that is distributed over time, such as demand data in monthly time periods. Various patterns of demand must be considered in time series analysis: seasonal, trend, cyclical, and random.

Analysis of any variable classified by time in which the values of the variable are functions of the time periods. Time series analysis is used in forecasting. A time series consists of seasonal, cyclical, trend, and random components. See: cyclical component, random component, seasonal component, trend component.


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