Google Cloud launched Timeseries Insights API, a highly efficient and scalable system that makes it easier for businesses and developers to quickly gather insights from streamed time series. The Timeseries Insights API is fully integrated with Google Cloud Storage and Google Cloud PubSub and can handle datasets as large as trillions of events.

Timeseries Insights API allows developers to load large amounts of historical data. The API allows new events to be appended in real-time and on which they can run continuous forecasting and anomaly detection queries.

The TImeseries API  has the following features.

1. Anomaly and trend detection: The API can detect trends and anomalies with multiple event dimensions.

2. Large Scale: The API can handle datasets consisting of tens of billions of events and run thousands of queries per second.

3. Low latency for queries: The API relies on low-latency services and can be used as a back end for interactive, user-facing applications.

4. Serverless and fully managed: The API is fully managed and the developers need not worry about setting up the infrastructure. Developers can focus on getting insights from the API.

Time-series data prediction has applications across sectors: Retailers can analyse inventory and adjust it to seasonality effects; IoT companies can detect intrusion attempts; payment processors can identify promotions from outages; and fintech can analyse trending topics etc.