From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
Join today to access over 22,600 courses taught by industry experts or purchase this course individually.
Defined names and relative references
From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
Defined names and relative references
- [Instructor] I'm in exercise file 01_02_Begin in the using beta as a cell name worksheet. Excel has a feature that makes your work go a lot quicker, helps to avoid careless errors, and makes the documentation of a worksheet much easier. That feature is defined names. Here, you can put the level smoothing constant in a cell and then give that cell the name alpha. You can do the same thing with the trend smoothing constant. Put it in a cell and name the cell beta. Suppose that you define the name beta for cell J2. If so, your formula for the next forecast of the trend value could be more self documenting. In this case, the name beta stands for cell J2, but it has meaning beyond the simple address that results from the intersection of a column and a row. And, as you'll see shortly, the name can redefine itself depending on what cell you use it in. All by itself, it's a small thing and if that were all there was to it, I'd define to name might not be much of a tool. But defined names…
Practice while you learn with exercise files
Download the files the instructor uses to teach the course. Follow along and learn by watching, listening and practicing.
Download courses and learn on the go
Watch courses on your mobile device without an internet connection. Download courses using your iOS or Android LinkedIn Learning app.