14. A monitoring computer system for monitoring at least one machine, the monitoring computer system comprising: a logical processor; a memory in operable communication with the logical processor; raw performance time series data having values for at least one monitored machine, said raw performance time series data values being spaced apart at different points in time, said raw performance time series data denoted as a “raw sequence” herein, the raw sequence having at least one gap, namely, at least one pair of adjacent raw performance time series data values are spaced apart at a larger spacing than at least one other pair of adjacent raw performance time series data values and no raw performance time series data value is provided for at least one monitored machine within said larger spacing; a correction module having correction logic which interacts with the processor and memory to correct at least one gap in the raw performance time series data for use in workload monitoring, in particular the correction logic transforming at least a portion of the raw sequence into an interval sequence by partitioning a performance monitoring period into equal intervals and assigning null and non-null values to the intervals based on raw sequence values within the intervals, and the correction logic converting at least a portion of the interval sequence into an absence length sequence, thus correcting at least one gap in the workload monitoring data by indicating a relative duration of null value periods in transformed raw performance data.
14. A monitoring computer system for monitoring at least one machine, the monitoring computer system comprising: a logical processor; a memory in operable communication with the logical processor; raw performance time series data having values for at least one monitored machine, said raw performance time series data values being spaced apart at different points in time, said raw performance time series data denoted as a “raw sequence” herein, the raw sequence having at least one gap, namely, at least one pair of adjacent raw performance time series data values are spaced apart at a larger spacing than at least one other pair of adjacent raw performance time series data values and no raw performance time series data value is provided for at least one monitored machine within said larger spacing; a correction module having correction logic which interacts with the processor and memory to correct at least one gap in the raw performance time series data for use in workload monitoring, in particular the correction logic transforming at least a portion of the raw sequence into an interval sequence by partitioning a performance monitoring period into equal intervals and assigning null and non-null values to the intervals based on raw sequence values within the intervals, and the correction logic converting at least a portion of the interval sequence into an absence length sequence, thus correcting at least one gap in the workload monitoring data by indicating a relative duration of null value periods in transformed raw performance data. 15. The monitoring computer system of claim 14 , wherein the correction logic comprises software residing in the memory which upon execution by the processor generates an interval performance data presence sequence from the interval sequence, said generated sequence denoted as a “presence sequence” herein, each interval sequence null value corresponding to a zero in the presence sequence and each interval sequence non-null value corresponding to a one in the presence sequence, and derives the absence length sequence from the presence sequence.