A time series is a sequence of data points collected or recorded at specific time intervals. It is commonly used in various fields, such as finance, economics, and environmental science, to analyze trends, patterns, and seasonal variations over time. For example, stock prices or monthly sales figures can be represented as time series data. Analyzing a time series helps in forecasting future values based on historical data. Techniques like moving averages and exponential smoothing are often employed to identify trends and make predictions. Understanding time series is essential for making informed decisions in business and research.