The Wolfram Solution for Economics
Easily create interactive applications that pull in your data or ours, perform standardized or custom analysis and generate reports automatically—all in one system, with one integrated workflow.
The Wolfram economics solution includes sophisticated statistics and optimization tools alongside unique capabilities like built-in data sources, instant interactivity, advanced differential equation solving and the reliability of a mixed symbolic-numeric approach to computation.
- The Wolfram Edge
- How Wolfram Compares
- Key Capabilities
Wolfram technologies include thousands of built-in functions and curated data on many topics that let you:
- Instantly create interactive applications to study economic behavior
- Run fast, efficient large-scale simulations for cash flow testing and other applications
- Generate computational agent-based models of dynamic economic systems
- Detect and visualize chaotic behavior in macroeconomic time-series data
- Solve microeconomic dynamic stochastic optimization problems
- Use DEA-type modeling for the study of the economic efficiency indexes and more
Does your current tool set have these advantages?
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Free-form linguistic input produces immediate results without the need for syntax
Unique to Wolfram technologies -
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 Mathematica -
Instant creation of dynamic interfaces that allow you to vary parameters and gain useful insights from datasets
Unique to Wolfram technologies -
Complete workflow, from data import to analysis to interactive document or slide show, in one system
R, GAUSS, Minitab and other software do not support a complete workflow in a single environment -
Powerful symbolic statistical computation and built-in functions for all standard statistical distributions
R, STATA and other numerical systems do not include symbolic functionality -
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 -
Seamless integration of numerics, symbolics, interactive graphics and all other computational aspects in one document
Unique to Wolfram technologies
Economics specific capabilities:
- Economic modeling and analysis using symbolic as well as numeric computation »
- High-level support for mathematical model building using calculus, probability and game theory
- Integrated parallel computing capabilities for solving Bayesian statistical problems or other computation- or data-intensive problems »
- 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 »
- Built-in linear, nonlinear, logit, probit, generalized linear and other regression models »
- Estimation of distribution parameters from data and testing of goodness of fit of data to distributions
- More statistical distributions than any other system, and the ability to define new distributions from data, formulas or other distributions »
- Powerful local and global optimization, both numeric and symbolic, including constrained nonlinear optimization, interior point methods and integer programming »
- Access terabytes of curated data from Wolfram|Alpha—including geographic, socioeconomic and demographic information—immediately ready for analysis »
- Easy import and export of data in a wide variety of formats, including XML, XLS, CSV and TSV »
- Combine the power of the Wolfram Language and the convenience of Microsoft Excel using Mathematica Link for Excel »
- Automatic generation of reports with interactive applications and text, immediately deployable using Wolfram Player or webMathematica
Organizations Using Wolfram Technologies
Consulting Solutions
Enlist the world’s computation experts to help with your project—any size, any level. At Wolfram, we know what’s possible with computational technology because we are global leaders in creating it. That gives us an unprecedented depth of expertise in applying it to consulting work in a variety of fields. Whether individual or enterprise, from concept to deployment, our computation experts can help you achieve robust results with less time and effort. Get us started with your project today