distinguish between time series analysis and crosssectional

Solution

Time series data : That data which is spread over time period like 6 months,   a year , two year etc., generally the data is of equal space period. The series are used to compare the data of two periods. Cross-sectional data : The data of a time period is detailed in various individual   or groups with common variables. This type of series is used to compare the group or a individual item of two period for analysis and decision-making purpose, like R&D expenses, HR expenses etc. There always requires to be some adjustments required in each of the series for making appropriate comparison of two period data because categories of items in the data keeps on changing as per the dynamic business situations. Moreover, the inflationary difference between the figures of two period is always there, which requires appropriate adjustments.