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SAS Visual Analytics Forecasting Demo

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See how you can use forecasting and scenario analysis within SAS Visual Analytics to improve your digital media mix. GET FREE TRIAL OF SAS VISUAL ANALYTICS Browse sample reports or explore on your own with this cloud-based demo. http://www.sas.com/tryva SAS VISUAL ANALYTICS Data visualization software that offers full-size power for any size budget. Get fast answers to even the most complex questions using data of any size – including big data in Hadoop. Guided exploration makes it easy. In-memory processing makes it fast. Advanced data visualization tools make it clear. Scalability makes it the perfect fit. And the price makes it within your reach. LEARN MORE ABOUT SAS VISUAL ANALYTICS http://www.sas.com/visualanalytics SUBSCRIBE TO THE SAS SOFTWARE YOUTUBE CHANNEL http://www.youtube.com/subscription_center?add_user=sassoftware ABOUT SAS SAS is the leader in business analytics software and services, and the largest independent vendor in the business intelligence market. Through innovative solutions, SAS helps customers at more than 75,000 sites improve performance and deliver value by making better decisions faster. Since 1976 SAS has been giving customers around the world The Power to Know.® VISIT SAS http://www.sas.com CONNECT WITH SAS SAS ► http://www.sas.com SAS Customer Support ► http://support.sas.com SAS Communities ► http://communities.sas.com Facebook ► https://www.facebook.com/SASsoftware Twitter ► https://www.twitter.com/SASsoftware LinkedIn ► http://www.linkedin.com/company/sas Google+ ► https://plus.google.com/+sassoftware Blogs ► http://blogs.sas.com RSS ►http://www.sas.com/rss
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Text Comments (32)
username1159 (1 year ago)
Great video. I see an apparent discontinuity in the historical data near the end of the period. It looks like the 500 should be 1500, or thereabouts. Is there anything in the software that would spot this and suggest another look at the actual data? If this is a data error it would have a big impact on the usefulness of an ARIMA forecasting model.
Suneel Grover (1 year ago)
The date where a value of ~500 is observed is a challenge we face in analysis all the time. It is an outlier in the distribution, and the analyst can use the software to: 1. Include or exclude that date using visual filtering 2. Leverage one of the six different forecasting algorithms available (which have varying degrees of capability to deal with outliers) 3. If this was truly a data error, use the software to apply an amendment (nothing is black box, and the technology has end-to-end capabilities to support an entire analysis workflow) The software offers multiple options for the analyst to deal with this issue. I hope this response helps.
Alexandros Koutsoftas (1 year ago)
What does SAS use to decide which predictors are significant?Because in one example the t-tests I performed in R showed two predictors to be significant while in SAS two different predictors were said to be significant
Suneel Grover (1 year ago)
Hi Alexandros - When SAS Visual Analytics is being leveraged for a Forecasting analysis, it runs your input data through six different models and picks the one with the best fit. Here is a list of the different models available in the software: 1. Damped-trend exponential smoothing 2. Linear exponential smoothing 3. Seasonal exponential smoothing 4. Simple exponential smoothing 5. Winters method (additive) 6. Winters method (multiplicative) As the data is modeled, the Root-Mean-Square-Error (RMSE) is calculated for each model behind the scenes. The RMSE is a measure of how close the predicted values are to the real data. The lower the RMSE, the more accurate the model is. SAS Visual Analytics then selects the model with the lowest RMSE to use in the forecast. Are you familiar with how these algorithms select underlying factors (or predictors)?
SAS Software (1 year ago)
Alexandros, thank you for your recent inquiry. We are researching this for you!
evaldas ramoška (2 years ago)
Hi, what method or algorithm is used here for forecasting? What is the best SAS product for forecasting and clustering analysis?
SAS Software (1 year ago)
Hello again, Evaldas! Suneel has given a great answer! You may also find this SAS Support Communities post helpful: Tip: Guidelines for Choosing a Clustering Method in the Cluster Node http://2.sas.com/60598YeYR
SAS Software (1 year ago)
Hello, Evaldas! We are checking on this and will get back to you soon!
Suneel Grover (1 year ago)
There are a variety of clustering algorithms available in Enterprise Miner. Just use the Help menu, and search on "Clustering" within the software to review all the different variants. There is excellent documentation in the software's Help menu.
evaldas ramoška (1 year ago)
Hi again, I'm doing clustering with SAS Enterprise Miner, but there is one clustering method (k-means). There is possible way to get other methods for clustering? Thanks.
Suneel Grover (2 years ago)
Most advanced tool for forecasting is SAS Forecast Server. For clustering, I would recommend SAS Enterprise Miner.
Kaushal Solanki (2 years ago)
Great Video... But here where we are getting what amount one need to spend for increasing paid search visits?
Suneel Grover (2 years ago)
Hi Kaushal - It is assumed in my demo that the digital marketer in charge of search advertising would already have access to an average CPM or CPC metric for me to answer that question. Does that help?
SAS Software (2 years ago)
Great question! We'll research this further and get back with you! Thanks for posting!
Bryon Miller (2 years ago)
Can I see the dataset being used to create these forecasts?
Suneel Grover (2 years ago)
If the blog posts do not address your questions, then we can visit the idea of modifying the table so I can share it...
Suneel Grover (2 years ago)
I would invite you to read these two blog posts: http://blogs.sas.com/content/customeranalytics/2016/03/22/web-analytics-vs-digital-intelligence-whats-difference/ http://blogs.sas.com/content/customeranalytics/2016/05/25/sas-360-discover-predictive-marketings-new-secret-weapon/
Bryon Miller (2 years ago)
Just to see how it was formatted mainly and to try to duplicate some of what you did. That'd help me make sure I understand it correctly
Suneel Grover (2 years ago)
May I ask what your interest is in the underlying table? I would need to do some work before I could share it, to ensure certain attributes were removed. Happy to help in any way possible.
Hadi Abdul (2 years ago)
Great video.. What if the report is containing data on a monthly or a quarterly basis, in that case does the forcasting feauture still show it for next quarter or is it only for 2 weeks irrespective of the time period.
Suneel Grover (2 years ago)
The forecast can be assigned to your preferred time interval. Forecasting by quarter or by month is applicable and supported. Thanks for your interest!
SAS Software (2 years ago)
Hadi, thank you for your inquiry! We are looking into this for you.
MsBluSpot (3 years ago)
Great Video too ! Good modulated voice.
SAS Software (3 years ago)
+MsBluSpot Thanks for your post!
MsBluSpot (3 years ago)
Hi Sunil, I am trying to find my machine name on the server in AWS. Do I go to Services and find the name or go to the drives area and see the machine name there ? I need to get this MetaData Connection profile setup as I am sure you are aware and I need to get thee correct one --- need just a little direction. Thanks much
SAS Software (3 years ago)
Sunil, On AWS, you can determine the name of your server instance by going to the EC2 service under the AWS console and listing your instances. Choose the server instance you’re interested in and look at the DNS fields in the Description tab. There can be restrictions on access to the Public and Private DNS names, depending on your AWS instance network configuration. Note that Erwan Granger has written an excellent internal blog on the topic of appropriately setting your AWS hostnames using the SAS Deployment Wizard.
SAS Software (3 years ago)
Sunil, We are checking into this for you. Can you email us your contact information to SAS_Cares@sas.com so we can follow up directly?