From state space oscillator model to oscillation component decomposition: (a) An illustrative example of a multichannel state space oscillation model: A single oscillation realized as an analytic signal xn is measured as two different projections having π/4 radian phase difference. (b) Graphical representation of the probabilistic generative model describing the oscillations as dynamic processes, that undergo mixing at the sensors and that are observed with additive Gaussian noise. (c) Graphical representation of the Variational Bayes’ approximation that allows iterative closed form inference. (d) Oscillation component analysis fitting and reconstruction pipeline for experimentally recorded neurophysiological data. The pipeline exposes a number of methods for ease of analysis, i.e., for fitting the OCA hyperparameters fit() method, that accepts the sensor recordings and an initial sensor noise covariance matrix as input, for extracting the oscillation time-courses get sources(), for reconstructing a multichannel signal from any arbitrary subset of oscillation components, apply(), for getting a final noise covariance estimate from the residuals of OCA fitting, get noise covariance() method etc.