Prophet Modelling Technique (1): Enumerations


If you’ve upgraded your Prophet version to Release 2024 Q4, you might have noticed a new and helpful feature: you can now define a variable as an enumeration type—in addition to the usual number and text types. (Prefer video? View the video for this post!)

If you’re not familiar with enumerations, let me briefly explain. In simple terms, an enumeration works like a two-dimensional array. The first dimension is a sequence of integers starting from 0, and the second is the corresponding text value. You can easily move between the two within the same pairing—get the text from an integer, or the integer from a text value.

Let’s say we set up an enumeration for IFRS17 discount rates and call it IFRS_DISC: 
  • The first pairing is 0 (integer) and “LIR” (text), for locked-in rates. 
  • The second pairing is 1 (integer) and “VIR” (text), for current rates. 
  • We can refer to them using object-like notation: IFRS_DISC.LIR and IFRS_DISC.VIR—similar to how it works in object-oriented programming (“OPP”) in VBA.
Prophet provides functions to handle these conversions. For example, you can use ENUM_TO_INT and ENUM_TO_TEXT to get 0 and "LIR" from IFRS_DISC.LIR. You can also convert an integer or a text value to an enumeration using INT_TO_ENUM and TEXT_TO_ENUM. 

So when should we use enumerations in our Prophet coding? In my view, enumerations make variable definitions much more readable. Instead of using raw values like 0, 1, or 2, you can make your conditions clearer. For example: 
  • Without enumeration: IF CALC_LOOP = 0 THEN
  • With enumeration: IF CALC_LOOP = ENUM_TO_INT(DISC_TYP.LIR) THEN 
Using enumeration makes the logic more transparent—you don’t have to remember what the numbers stand for. Plus, since enumerations must be defined under Workspace Objects, it also helps reduce manual errors. 

With enumeration now supported as a variable type, we can streamline our logic even further. Going back to the earlier example:
  • You could create a new variable that automatically converts CALC_LOOP into an enumeration, say CALC_DISC. 
  • Then, your condition becomes as simple as: IF CALC_DISC = DISC_TYP.LIR THEN, with no need for conversion functions. 
There’s another useful application—enumeration variables can help with table suffixes that need to vary by t or CALC_LOOP. As many of you know, text variables in Prophet can't directly depend on t or CALC_LOOP. But with the new CALC_DISC variable, you can derive a suffix like this: "ifrs_disc_" + ENUM_TO_TEXT(CALC_DISC) + "_pc".

Wrap Up 

The addition of enumeration as a variable type in Prophet is a small but meaningful improvement. The use of enumerations makes our code cleaner, easier to understand, and less prone to errors. If you haven’t used it yet, give it a try—you might find it a simple way to bring more structure and clarity into your Prophet coding.


Comments

Post a Comment

Popular posts from this blog

Other Ways to Prepare Prophet Model Point Files? Try FoxPro!

Image
If you are a frequent Prophet user, you must be definitely familiar with "Model Point Files" ("MPF"), i.e. the policy data that you compile in a specific format that Prophet can recognize as inputs for Prophet runs. If my guess is right, most probably you use Data Conversion System ("DCS") to convert the source data you download from your policy administration system (may be in various format, e.g. fixed ASCII / fixed width, comma delimited, tab delimited, etc.) into the required MPF, based on the definitions you specified in your DCS programs. In case your source data are divided into various files, you may need to carry out more steps to prepare MPF, for example: Open different source files in Excel Combine required fields from different source files by using commands (such as) VLOOKUP, SUMIF & MATCH. You may have automated this process by using VBA. Convert the required files into text files Use DCS to convert those text files into MPF  How...
Read more

How do You Setup Indicators in Your Prophet Model?

Image
In my previous post, I have discussed areas that you may consider in setting up input variables . Before I proceed my discussion on core variables, I would think that it is good for use to take a look on indicators - as indicators play an important role in setting core variables with various formulas (known as "variable definitions" in a Prophet model).  The funny thing about indicators is: it DOES NOT carry any formulas that you need to use in calculating a variable! Basically, they are just some texts that you can combine using different logical operators (AND, OR, NOT), such as "ORD_PAR AND SING_PREM" for a single premium ordinary participating product. 
Read more

Master Products in Prophet Workspace - Many or Few?

When I worked on Prophet projects that involved setting up Prophet model from scratch or streamlining existing Prophet models, one of the common requests I came across was relating to no. of master products. Many Prophet users have such a perception, i.e. the lesser no. of master products in a Prophet workspace, the better it is. Let's think about it, is this perception correct? When we are talking about of having a better Prophet model, what does the word "better" mean? Define a BETTER Prophet Model It is important for us to define what we expect from a "better" Prophet model, instead of focusing on the no. of master products in the model. Let me share some views if I am a Prophet user:
Read more