Time ranges are slices of time that you can specify for measure items in your views. The Time Range property within each view controls whether or not time ranges will be available for use with the view measure items. The property within a view needs to be Yes for time range functionality to be enabled in the view. Time ranges consist of a time unit (period, days, weeks, months, etc.), a From Year and Period, a To Year and Period, and an Offset property. A time range can span short or long units of time, for example, the current day, the months in the current year up to the current month, or multiple years.
The time range for the measure items in this example returns the sum of the Budget Amount and Units Frozen for the next 6 months -- the current month and next 5 months after it.