I ran the
auto.arima()command in R on a set of data and it chose the appropriate model to be ARIMA(0,1,0).
I know ARIMA(0,0,0) is just white noise, but what does ARIMA(0,1,0) mean?
ARIMA(0,1,0) is random walk.
It is a cumulative sum of an i.i.d. process which itself is known as ARIMA(0,0,0).