Seasonality
Seasonality
Seasonality (/siːzəˈnælɪti/) is a characteristic of a time series in which the data experiences regular and predictable changes that recur every calendar year. Any predictable fluctuation or pattern that recurs or repeats over a one-year period is said to be seasonal.
Etymology
The term "seasonality" is derived from the word "season". In the 14th century, "season" was used to mean "appropriate time," with ties to the Latin word "satio" meaning "sowing" or "planting". This evolved into the concept of seasonality, indicating a recurring phase in a year.
Related Terms
- Cyclical Variations: These are recurrent variations in a time series that occur less frequently than seasonal variations. They usually last for more than a year and are often related to the business cycle.
- Trend: This is a long-term movement in time series data after other components have been accounted for. It tells whether a particular data set (like GDP, employment, etc.) has increased, decreased, or stagnated over the years.
- Irregular Variations: These are unpredictable, erratic 'blips' in time series data. They are also termed "random variations" and are caused by unpredictable influences, which are not regular and also do not repeat in a particular pattern.
- Time Series Analysis: This is a statistical technique that deals with time series data, or trend analysis. Time series data means that data points are arranged in a chronological order, which helps to analyze the past, which is then extrapolated to forecast future data points.
See Also
External links
- Medical encyclopedia article on Seasonality
- Wikipedia's article - Seasonality
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