The Wolfram Solution forEconometricsRapidly create interactive test models, analyze data, and seamlessly scale up to large, high-powered simulations—all in one system, with one integrated workflow. The Wolfram econometrics solution is unique in providing built-in, ready-to-use economic data alongside powerful statistical analysis tools, built-in parallel processing, and state-of-the-art symbolic and numerical computation. |
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Wolfram technologies include thousands of built-in functions and curated data on many topics that let you:
- Analyze stationary and non-stationary time series data
- Compute Monte Carlo simulations, bootstrap analysis, probability estimations, and more
- Solve computationally intensive Bayesian statistics problems
- Estimate with spatial autoregressive panel data models
- Model the macroeconomic effects of federal interest rate cuts, tax policy, currency devaluation, and more
- Price American, European, and exotic derivatives using Monte Carlo simulation
Make every report or statement interactive with real-time computation, enabling customers to test multidimensional "what if" scenarios
Study the macroeconomic effects of major Fed rate cuts
Does your current tool set have these advantages?
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Complete workflow, from data import to analysis to interactive document or slide show, all in one system
R, SAS, Minitab, and other software do not support a complete workflow in a single environment -
Built-in current and historical financial, socioeconomic, and other data ready for computation without preprocessing
Built-in data combined with high-powered computation is unique to Wolfram technologies -
Instant creation of dynamic interfaces that allow you to vary parameters and gain useful insights from datasets
Unique to Wolfram technologies -
Automated precision control and arbitrary precision numerics produce highly accurate results
Microsoft Excel and other systems that rely on finite precision numerics can cause serious errors due to lack of precision -
Powerful symbolic statistical computation and built-in functions for all standard statistical distributions
R, STATA, and other numerical systems do not include symbolic functionality -
Seamless integration of numerics, symbolics, interactive graphics, and all other computational aspects in one document
Unique to Wolfram technologies
Creating multidimensional visualizations of production, sales, and unemployment
Modeling economic processes as mean-reverting random walks
Econometrics specific capabilities:
- More statistical distributions than any other system, with the ability to define new distributions from data, formulas, or other distributions »
- Estimation of distribution parameters from data and testing of goodness of fit of data to distributions
- Efficient random number generation for Markov chain Monte Carlo (MCMC) techniques, probability estimations, model likelihood calculations, and more »
- Multidimensional optimization problem-solving using automated algorithm selection or user-specified methods such as simulated annealing, Nelder–Mead, differential evolution, and random search »
- Easy creation of interactive applications for real-time analysis of parametric models »
- Wide variety of built-in standard charts and graphs, including pie and bar charts, paired histograms, box whisker charts, radar plots, and quantile plots »
- Access terabytes of curated data from Wolfram|Alpha—including geographic, socioeconomic, and demographic information—immediately ready for analysis »
- Hundreds of formats for importing and exporting data, including XLS, XML, CSV, and TSV »
- Integrated parallel computing control and capabilities for solving Bayesian statistical problems or other computation- or data-intensive problems »
- Automatic generation of reports with interactive applications and text, immediately deployable using Wolfram CDF Player or webMathematica
- Analysis of ARCH, GARCH, stationary, and non-stationary time series models such as AR, MA, ARMA, ARIMA, and SARIMA using the Time Series application package »
- Model identification and diagnostic tools, including AIC/BIC model selection and partial-, auto-, and cross-correlation functions using the Time Series application package »
- Integrate with Microsoft Excel with Mathematica Link for Excel »
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