What are the patterns of a time series data?
As an applied statistician in business I am always confronted with data mining situations. With respect to the patterns of time series data always remember that most time series patterns can be described in terms of two basic classes of components: trend and seasonality. The former represents a general systematic linear or (most often) nonlinear component that changes over time and does not repeat or at least does not repeat within the time range captured by our data (e.g., a plateau followed by a period of exponential growth). The latter may have a formally similar nature (e.g., a plateau followed by a period of exponential growth), however, it repeats itself in systematic intervals over time. Those two general ...
This solution explains the patterns of a time series data.