Practical Time Series Analysis

Cross-sectional data

Cross-sectional data or cross-section of a population is obtained by taking observations from multiple individuals at the same point in time. Cross-sectional data can comprise of observations taken at different points in time, however, in such cases time itself does not play any significant role in the analysis. SAT scores of high school students in a particular year is an example of cross-sectional data. Gross domestic product of countries in a given year is another example of cross-sectional data. Data for customer churn analysis is another example of cross-sectional data. Note that, in case of SAT scores of students and GDP of countries, all the observations have been taken in a single year and this makes the two datasets ...