Turn the time series into an object in space. This procedure is called an embedding. The space is called the phase space. The object is called the phase space set.
Determine the fractal dimension of the phase space set.
If the fractal dimension of the phase space set is large, then the mechanism that generated the data is a random mechanism that is based on chance.
If the fractal dimension of the phase space set is small, then the mechanism that generated the data is deterministic.
If the mechanism that generated the data is deterministic, but the time series mimics that produced by a random process, then the system is said to be ''chaotic."