Comparison With Other Software
One advantage of the RATS program is that it is inexpensive, compared to larger programs such as SAS. RATS has many of the same capabilities as SAS in both time series analysis and other advanced statistical methods. The two programs differ more in the details than in capabilities. SAS has routines for automated State Space estimation. RATS can be programmed to estimate State Space models, or regression models with time-varying coefficients. In this respect, RATS is actually more flexible. Similarly, SAS has an entire routine for estimating and forecasting with Unobserved Components Models. In RATS, estimation of this type would require extensive programming. Nevertheless, in general, the capabilities of RATS are comparable to SAS/ETS and SAS/STAT, but at a much lower price.
Read more about this topic: Regression Analysis Of Time Series
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