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It can be clustered and it is extensively used by economists and sociologists to understand the reasons for some events.
In such a system, the dependent variable is measured at several points of time often over a long time period for each subject.
The data don't need to be collected over the years.
It can be gathered through a series of repeated observations over a given time phase and it can include commodity trading data, asset class depreciation, individual’s or household’s, online market, repeated cross-sectional data, long term data, etc.
It is, sometimes, called the panel data, which can track the same sample at different points of time.
The main benefit is that researchers can detect the development or changes in the target population at the individual and group levels.
The key is the longitudinal studies can extend beyond one moment and it can establish sequences events. The analysis based on such data may involve variables measured at different time points.
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