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http://www.itl.nist.gov/div898/handbook/pmc/section4/pmc41.htm
http://www.abs.gov.au/websitedbs/D3310114.nsf/home/Time+Series+Analysis:+The+Basics
WHAT IS A TIME SERIES?
A time series is a collection of observations of well-defined data items obtained through repeated measurements over time. For example, measuring the value of retail sales each month of the year would comprise a time series. This is because sales revenue is well defined, and consistently measured at equally spaced intervals. Data collected irregularly or only once are not time series.
An observed time series can be decomposed into three components: the trend (long term direction), the seasonal (systematic, calendar related movements) and the irregular (unsystematic, short term fluctuations).
http://www.stat.columbia.edu/~rdavis/lectures/Session6.pdf
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