The ESM Procedure

Details: ESM Procedure

The ESM procedure can be used to forecast time series data as well as transactional data. If the data is transactional, then the procedure must first accumulate the data into a time series before it can be forecast. The procedure uses the following sequential steps to produce forecasts, with the options that control the step listed to the right:

Table 14.2: ESM Processing Steps and Control Options

Step

Operation

Option

Statement

1

accumulation

ACCUMULATE=

ID

2

missing value interpretation

SETMISSING=

ID, FORECAST

3

transformations

TRANSFORM=

FORECAST

4

parameter estimation

MODEL=

FORECAST

5

forecasting

MODEL=, LEAD=

FORECAST, PROC ESM

6

inverse transformation

TRANSFORM, MEDIAN

FORECAST

7

summation of forecasts

LEAD=, STARTSUM=

PROC ESM


Each of the steps shown in Table 14.2 is described in the following sections.