A5. Time series applications

Times-series analysis is traditionally applied in the finance related areas but now it is used a lot in the environmental sciences. There are many more advanced time series methods involving stochastics and spectral analysis for example that can be applied to many areas in the environmental sciences. The large data that is now available has indeed shows that the future of time series research in the environmental sciences as well. It is important to understand natural processes and their dynamics from the data that is available as well rather than always relying on the physical processes.

(i) Time series in business financial applications such as oil, gas and water markets

(ii) Time series in environmental applications such as rainfall variations, water variability groundwater pollution, sea level change, and atmospheric pollution