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The display time is used in the time series display and allows the operator to define view windows on the selected time series. Note that the DisplayTime works like a TimeZero for the data displayed! So changing the displayTime to a different date does not only change the view period, but in case of simulated and forecast timeseries, might lead to the selection of timeseries with a different forecast time.
Setting the display time has no effect on data stored in the database.