Thursday, May 20, 2021

Use the Forecast Sheet in Excel

Forecasting in Excel has become must easier with the Forecast Sheet feature (which became available in Excel 2016). If you wanted to do a quick forecast of sales or population data, Forecast Sheet will create a table and chart for you all in a few clicks of the mouse. It uses the Exponential Smoothing (ETS) algorithm and the note here is that it requires the timeline to be organized with a constant step between the different points (i.e., a monthly timeline with the values on the 1st of the month); so if you've got different dates, it's advised to aggregate raw detailed data to a common time series before you apply the forecast.

1 comment:

  1. In the clip you opened a "forecast sheet" when i visit my header this is greyed out. where did you get your sheet from???