Data Driven Decision Making with Time Series and Spatio-Temporal Data

Time series data captures properties that change over time. Such data occurs widely, ranging from the scientific and medical domains to the industrial and environmental domains. When the properties in time series exhibit spatial variations, we often call the data spatio-temporal. As part of the continued digitalization of processes throughout society, increasingly large volumes of time series and spatio-temporal data are available. In this tutorial, we focus on data-driven decision making with such data, e.g., enabling greener and more efficient transportation based on traffic time series forecasting. The tutorial adopts the holistic paradigm of 'data-governance-analytics-decision.' We first introduce the data foundation of time series and spatio-temporal data, which is often heterogeneous. Next, we discuss data governance methods that aim to improve data quality. We then cover data analytics, focusing on five desired characteristics: automation, robustness, generality, explainability, and resource efficiency. We finally cover data-driven decision making strategies and briefly discuss promising research directions. We hope that the tutorial will serve as a primary resource for researchers and practitioners who are interested in value creation from time series and spatio-temporal data.