Forecasting in Excel Made SIMPLE (include seasonality & make predictions)
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In this video I'll show you how easy it is to create a forecast in Microsoft Excel. A forecast can help you predict things like future sales, inventory requirements, or consumer trends based on historical data. We'll use The Home Depot's quarterly sales data to make predictions for the upcoming quarters.
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We guide you through creating accurate forecasts and budgets in Excel, tailored for sales, manufacturing, and other key performance indicators (KPIs). You'll learn how to use Excel's Forecast Sheet. This feature turns historical data into accurate predictions with just a few clicks. This is especially helpful when you're working with seasonal data.
What You'll Discover:
▪️ Basics of Forecasting in Excel
▪️ Analyzing Historical Data for Accurate Predictions
▪️ Using Excel's Forecast Sheet for Easy Forecasts
▪️ Tips for Managing Seasonality in Data
This feature is available in Excel 2016 and higher. It automatically creates formulas with the FORECAST.ETS function with its exponential triple smoothing algorithm.
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00:00 How to Do Forecasts in Excel
00:37 Analyzing Historical Data
01:24 How to Use the Forecast Sheet
04:54 Wrap Up
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