Theory and methodology provided by time series analysis is one of the tools which is used for those studies focusing on highly complicated and synthetic projects. Its technology of anticipation and evaluation is more developed than others, and its forecasting circumstance is specific, too. Many scholars have yielded a rich harvest on time series in recent years, some others have researched a new forecasting methods based on time series analysis methods, and have innovated in the application and development. Author from the basic theory and application in terms of time series analysis were reviewed, while elaborating on its future trends.