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time series query

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The problem I'm trying to solve is pretty standard. I have a table that records measurements of different types at different times.

CREATE TABLE measurements (
 obj_id int4,
 val_type_id int4 references lu_val_type(val_type_id),
 val numeric,
 observation_date date
);

I want a query as simple and fast as possible to return the latest observation of each type for each object. I sent a message to this list a while ago, and the suggestion I found to be the best compromise of clarity and speed was:
a) create an index on (obj_id, val_type_id, observation_date)
b) the "obvious" query becomes fast thanks to the index.
   select ms.*
   from (
select obj_id, val_type_id, max(observation_date) as observation_date
       from measurements
      group by obj_id, val_type_id
   ) ms_last
   join measurements ms using (obj_id, val_type_id, observation_date);

It still bugged me a bit that this requires a JOIN, especially since in a procedural language, it would have been so easy to return the value associated with the max(observation_date). I think I've found a pretty good alternative. This at the moment works if we keep track of time with an integer, rather than a date, but it would be readily extensible.

The idea is to in fact, associate the value with the max(observation_date) like so:
select obj_id, val_type_id, max(array[observation_date, val])
group by obj_id, val_type_id;

There are two caveats:
a) array requires elements to be of the same type, so observation_type must be kept as "time from" b) a row constructor would be ideal here, but there is now max function for rowtypes.

If I did have a max() function for row types, it would be clean to do this:
select obj_id, val_type_id, max(row(observation_date, val))
group by obj_id, val_type_id;

Now, it seems that since rowtype comparison is built in, it should be pretty easy to build a max() aggregate for it. Has anybody done this? I'd have looked at the code for max(anyarray) but I don't know how to access it. Can someone point me in the right direction?

Also, has someone thought about this before? I'm wondering if there will be a speed gain coming from this.

Thank you,
Jaime


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