Seasonality refers to the periodic fluctuations that occur in various phenomena, often influenced by the changing seasons. In nature, this can be seen in the migration of birds, the blooming of flowers, and the hibernation of certain animals. These patterns are crucial for understanding ecological dynamics and agricultural practices.
In economics, seasonality can affect consumer behavior, sales trends, and production cycles. For instance, retail businesses often experience increased sales during the holiday season. Understanding seasonality helps businesses and researchers make informed decisions and predictions based on historical data and trends.