Timeaggregate is a function which collects and aggregates number values over a specific period of time.
This can be used to aggregate information without using a table as a source.

=TIMEAGGREGATE(DataCell, [Period, AggregationMethod, TimeSerial, Interval, TargetRange])

The only needed parameter is the DataCell, all other parameter have default settings to fall back on.

DataCell: Define a cell in the DataCell parameter to choose the information source. Only evaluates numbers all other values are ignored.
Period: Optional. The time period in seconds in which data is collected. Default is 60 seconds.
AggregationMethod: Optional. One of the predefined numbers which specifies the aggregation method to use. Default is 9.
TimeSerial: Optional. A serial number to use as key for each aggregated value. Default is NOW.
Interval: Optional. An interval in seconds at which values should be aggregated. Default to the specified period. Note: Different TargetRanges will be collected.
( Interval empty: collects all values within the specified period. Interval equals period: aggregates all values in intervals of the specified period. ) Further, to not loose any data, an Interval should always be a divisor of the Period.
TargetRange: Optional. A cell range to write the aggregated values to. Collects aggregation intervals and displays them. Differs if interval is left blank (see interval).

Use Case:

The Timeaggregate function is often used for creating charts. Use the Timeaggregate function as the source cell of your chart and it will display the TargetRange data.
In this example I use =TIMEAGGREGATE(B2,10,1,,1). I listen to the last 10 seconds of the input on B2 with the aggegration mode average and an interval of 1 second. This way I generate 10 datapoints representing the average input data per second.