Statistical Data Analysis Services

The clustering technique in  Statistical Analysis  is used to determine the subsets as clusters in the data using the specified distance measure. However, this technique cannot be applied easily for longitudinal or time-series data. In this blog, I will discuss some of the methods used for modeling longitudinal or panel data using the  Clustering Analysis  technique as explained in Schmatter (2011). Longitudinal data is actually a sample of observations which are measured repeatedly over time. And, nowadays, longitudinal/repeated measure data or panel data exists in all areas of  Applied statistics  such as finance, psychology, economics, and social sciences. Most studies deals with analyzing homogeneity in such  Time series data  (Diggle et al 2002), however, there are few researchers’ shows interest in analyzing the heterogeneity in such data and they proposed different modeling technique for the same. Let us now discuss the applicabilit...

APPLICATION OF TIME SERIES ANALYSIS IN FINANCIAL ECONOMICS Statswork Nov 23  · 6 min read In this blog, I will explain to you a few applications of  Time Series Analysis  in financial economics. But, before that let us understand what exactly a  time series analysis  and  Data Analysis Time Series Analysis A time series is actually a sequence of data points recorded at regular intervals of time (yearly, quarterly, monthly, daily). Time series includes two types: 1. Univariate — involves a single variable 2. Multivariate — involves two or more variables Let me present you with a list of examples of time series: ü Monthly or daily precipitation of a region ü Daily stock prices (opening, closing) over a period of years/days. ü Monthly bike sales over a period of 3 years ü Annual unemployment rate over a period of 10 years Forecasting Time Series Data The main objective of a  Time ...