I have some experience working with time series analyses but not much and I need some help regarding which SAS procedure is most appropriate for my situation.
I have monthly cost data from 2006 - 2011 that I need to use to forecast for 2012. So, I need to use my 6 years of data to create some type of model that will then forecast costs for each month in 2012. I think seasonality may be a component that needs to be taken into account.
Is PROC ARIMA the right procedure for me? I've seen a procedure called PROC X11 that seasonally adjusts data but I am not sure if I should use it or not.
Any assistance would be greatly appreciated.
Thanks!
I have monthly cost data from 2006 - 2011 that I need to use to forecast for 2012. So, I need to use my 6 years of data to create some type of model that will then forecast costs for each month in 2012. I think seasonality may be a component that needs to be taken into account.
Is PROC ARIMA the right procedure for me? I've seen a procedure called PROC X11 that seasonally adjusts data but I am not sure if I should use it or not.
Any assistance would be greatly appreciated.
Thanks!
