From the course: Excel: Analytics Tips

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Basic forecasting

Basic forecasting - Microsoft Excel Tutorial

From the course: Excel: Analytics Tips

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Basic forecasting

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- [Instructor] All right, time to talk about one of my favorite analytics techniques, forecasting. And specifically, I want to show you how we can create forecast sheets using historical data in Excel. Now recent versions of Excel, I believe starting with 2016 and Office 365, include a built-in forecast sheet tool that allows you to calculate forecasts based on a given set of historical values. So for instance, if we have basic data like this, monthly average temperatures, which in this case, actually continue to extend through about six years worth of data. What we can do is select both of those columns, including the month or the date indicator, as well as the values, drill into the data tab and click on the forecast sheet tool right next to the what if analysis options. And when we do that, we'll see a basic preview of the default forecast that Excel has produced. As well as options to customize things like the forecast…

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