Analysis 101: Times Series Tools
10/08/07 09:28 Filed in: Analytical
Techniques | Tools
Old School
To do basic time series analysis all you really need is graph paper and a pen or pencil. The down side is that this method is very labour intensive and as the dataset becomes larger most of us can’t cope.
Middle of the Road
The next step up is to use something like Excel. There are some useful free or low cost tools that can simplify time series analysis. In a previous post we saw how to use Excel to do some simple analysis. The sample templates we used are located here.
I’ve developed a Cumulative Security Incident workbook that I use to track longer-term trends. It is available on the downloads page. It’ll produce charts like this one.
Vertex 42 has a free Excel template that can help you create simple timelines. While it might seem to be better suited to presenting a final analytical product it can also be used in the analytical process. Back in the days of the First Gulf War I used a timeline similar to this in an effort to gain a better understanding of Saddam Hussain.. Above the line I plotted significant events in Saddam Hussain’s personal life. Below the line I plotted significant historical impacting Iraq. The exercise proved very revealing and shed light on the man behind the myth.
Some people use Gantt Chart software to do time series analysis but I find it awkward and time consuming.
Bleeding edge
If you are going to do a lot of time series analysis or if you need to analyse large quantities of data you should probably consider a product like Analyst’s Notebook by i2. It can handle a time series of several thousand incidents with relative ease. It is also beneficial in many other types of analysis so you’ll probably here me refer to it again. Be warned though, it is expensive.
To do basic time series analysis all you really need is graph paper and a pen or pencil. The down side is that this method is very labour intensive and as the dataset becomes larger most of us can’t cope.
Middle of the Road
The next step up is to use something like Excel. There are some useful free or low cost tools that can simplify time series analysis. In a previous post we saw how to use Excel to do some simple analysis. The sample templates we used are located here.
I’ve developed a Cumulative Security Incident workbook that I use to track longer-term trends. It is available on the downloads page. It’ll produce charts like this one.
Vertex 42 has a free Excel template that can help you create simple timelines. While it might seem to be better suited to presenting a final analytical product it can also be used in the analytical process. Back in the days of the First Gulf War I used a timeline similar to this in an effort to gain a better understanding of Saddam Hussain.. Above the line I plotted significant events in Saddam Hussain’s personal life. Below the line I plotted significant historical impacting Iraq. The exercise proved very revealing and shed light on the man behind the myth.
Some people use Gantt Chart software to do time series analysis but I find it awkward and time consuming.
Bleeding edge
If you are going to do a lot of time series analysis or if you need to analyse large quantities of data you should probably consider a product like Analyst’s Notebook by i2. It can handle a time series of several thousand incidents with relative ease. It is also beneficial in many other types of analysis so you’ll probably here me refer to it again. Be warned though, it is expensive.