From the course: Excel: Sales Forecasting
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Customer transaction forecasting
From the course: Excel: Sales Forecasting
Customer transaction forecasting
- [Instructor] We've talked about basic sales forecasts and budgets for things like startup firms. We've also talked about more expansive forecasts built around regressions, where you're pulling in outside data but for a lot of businesses, what they're really interested in is not so much high level forecasts, but rather forecasts related to particular customer transactions. Understanding which customers are going to spend money, which ones won't and what drives them to spend money or not spend money. Fortunately, we can do this kind of modeling in Excel as well. Let me show you what I'm talking about and how we get started. I'm in the zero four zero one begin, Excel spreadsheet. So we have here is data related to a hypothetical restaurant, right? We've got customers over time and we've got the customers identified by their first name. We've got about 5,500 of them. We also see the number of people that ate at the…
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