How to build an index? How to create an index?

There are 4 main steps for building an index.

Step 1. Select dataset

  1. In the Dataset dropdown, select the dataset where series are to be used as inputs for constructing the index.

  2. In the Input data frequency dropdown, select the frequency of the input series. All inputs need to share the same frequency for the index to be computed.

  3. Click To Specify base period for the next step.

Step 2. Specify base period

  1. In the Base period frequency, select the frequency of the base period. You can select a frequency same as the inputs or a frequency lower than the inputs.

  2. In Base period, select the time period where the benchmark period is. For the time period selected, the value(s) will be set to 100.

  3. Click To Set up index for the next step.

  4. An alternative to specifying base period is to select the option Use the first non-null observation period as base period. The tool computes the index and set the first period of the index to 100.

Examples of specifying base period

Example 1. Setting the base period frequency same as frequency of inputs

If the inputs are in monthly frequency, when you specify base period = 2010M1 and base period frequency = monthly, then the value of index will be fixed to 100 for January 2010.

Example 2. Setting the base period frequency lower than frequency of inputs

If the inputs are in monthly frequency, when you specify base period = 2010 and base period frequency = annual, then the value of index will be fixed to an average of 100 for the months in 2010.

Step 3. Set up index

  1. Select Add Components, then select the inputs for the index.

  2. In Input type, select whether the inputs are Raw data (in levels), % Change (percent change) or % Change, YoY (year-over-year percent change).

  3. In Weight, %, specify the percent weight for each input. The weight is to be non-negative. The tool automatically rebalances all weights to a total of 100% during calculation.

  4. Click To Publish.

Step 4. Publish

  1. In Name, provide a name for the index to be published.

  2. Subtitle and Description are optional fields.

  3. Specify the Location (folder) where the index is to be stored.

  4. Click Publish.

The index is now published, and can be embedded as an interactive object, or be shared with other users.