This is part of the SAP Lumira Discovery blog series.
What is Time Series?
A Time Series is a sequence of observations over regularly spaced intervals of time. For example:
- Daily closing stock price for the past year
- Daily production at a manufacturing plant for a month
- Daily Sales of a retail industry for a quarter
Time Series Analysis accounts for the fact that data points taken over time may have an internal structure and to obtain an understanding of the underlying forces that produced the observed data.
Time Series in SAP Lumira Discovery
SAP Lumira Discovery has three charts that can be used for depicting time series data:
- Line Chart for Time Series
- Scatter Plot for Time Series
- Bubble Chart for Time Series
These charts should have a mandatory Time Dimension object on the X-Axis, so that we can drill the data across the time period (Day, Month, Quarter and Year). Also, we can have measures and other dimensions over the Y-Axis.
Features of Time Series
- Handles huge volume of data without any cluttering in data points
- Utilizes the time dimensions without the need to build Date/Time hierarchy
- Easy to navigate across the time dimension compared to a standard chart
- Automatically scaling X-Axis Time Dimension (Day, Month, Quarter, Year)
- Leverages the power of Line, Scatter Plot and Bubble chart across the Time period
Comparison over the Traditional Charts
1. Line Chart for Time Series
In the above mentioned samples, the Revenue and Cost of an organization is plotted across the Time Dimension (daily data for a year).
In this case the Line Chart for Time Series automatically scales up the X-Axis to the month level. It can handle huge volume of data and provides clear visualization of the Trend and Seasonality. Whereas The Traditional Line chart fails to score here, due to the huge volume of data, the chart gets cluttered up. (But Traditional Line Chart has its own advantages).
2. Scatter Plot for Time Series
In traditional Scatter Plot, both X-Axis and Y-Axis will have a mandatory measure plotted on each and the color of the plot will be varied by single or multiple dimension(s).
Whereas the Scatter Plot for Time Series will have a mandatory Time dimension on the X-Axis and a measure on the Y-Axis. As similar to the traditional the color factor will be varied by single or multiple dimension(s). As stated in the sample, we can easily analyze the Revenue of an Organization over the particular time period across different regions using Scatter Plot for Time Series.
3. Bubble Chart for Time Series
The traditional Bubble Chart needs to have three mandatory measures, one on the X-Axis, another one on the Y-Axis and the third one determines the size factor of the bubble. Also we can have single or multiple dimension(s) to color the bubble.
The Bubble Chart for Time Series will only have two measures one on the X-Axis and another one for the size, because the X-Axis is being plotted by the mandatory Time Dimension. As stated in the sample, we can easily analyze both the revenue and profit of an organization over the particular time period across different regions using the Bubble Chart for Time Series.
This information is based on the current product roadmap and is bound to change.