Trend Systematic: Overall or persistent, long-term upward or downward pattern of movement Changes in technology, populations, wealth. Value Several Years
Seasonal Systematic: Fairly regular periodic fluctuations that occur within each 12-month period year after year. Weather conditions, social customs, religious customs Within 12 months
Cyclical Systematic: Repeating up and down swings or movements through four phases: from peak (prosperity) to contractions (recession) to trough (depression) to expansion (recovery or growth) Interactions of the numerous factors that influence the economy usually 2-10 years with differing intensity for the cycles
Irregular Unsystematic: The erratic or residual fluctuations in a series that exist after taking into account the systematic effects random variations in data or due to unforeseen events such as strikes, hurricanes, and floods. Short duration and non-repeating.
Let me give you an example of cold drink industry
Trend: It is the year on year increase in sales of cold drinks due to increase in population and drinking habits of population.
Seasonal: This is change in the monthly sales of the cold drink due to seasons. The consumption is high during hotter months and lower during colder months. If we take a ...
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