Time Series elements provide a very flexible and powerful way to input external time histories of data into GoldSim. You can use a Time Series element to input the predefined histories of things like interest rates, commodity prices, temperature, rainfall rates, sales rates, cash flows, or the condition (reliability, strength) of a machine or a material. A Time Series element represents an exogenous (external) “driver” that can directly or indirectly influence the dynamic behavior of the system being modeled.
The Time Series element is feature rich and thus has the potential to cause confusion if not fully understood. It is important that our users learn how to use this element before implementing Time Series elements in project models. This model introduces basic features of the Time Series element, followed by the more advanced features, including the items shown in the list below:
- Data sources
- Defining how the data are represented, including a) defining the primary output of the Time Series element and b) enabling the rate of change output in a Time Series element.
- Non-scalar time series
- Enable multiple series
- Time shifting
- Time Series Lookup Function
An accessory spread sheet ("MassLoadingData.xlsx") is used to provide time series values for the examples within this model. This file is provided along with this model in order to provide a full example of Time Series element functionality.