Murphy Choy

Three different ways to do forecasting in SAS

In Uncategorized on October 12, 2011 at 3:54 pm

Well, we are having a discussion about the tools available for forecasting purposes. The reason why we are discussing this was because we were evaluating the various possible ways to obtain forecasting for a possible project with a company. as the company currently do not have the essential tools to meet their forecasting purposes, they need our help to recommend a suitable tool.

 

Since I am one of the great fan of SAS, I have recommended a few possible choices from their menu of choice. The first tool to recommend is the SAS/ETS product. This is the choice for people who are comfortable with base programming. At the same time, it offers a great variety of possible models for analyst who might be facing forecasting problems or Time series issues.

 

Another possible choice is to use the forecasting studio which is configured to use high-performance forecasting technologies that are embedded within the SAS technologies. The forecasting studio is a powerful tool and has extended forecasting capabilities above that of SAS/ETS. While it is a powerful one, it is also more costly than the base version.

 

Finally, the last tool for forecasting purposes is JMP. While it is not technically a part of SAS, it is one of products of SAS. It has very graphical approach to time series analysis and provides a variety of tools to achieve accurate forecasting.

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