From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
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The Excel Forecast Sheet
From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
The Excel Forecast Sheet
- [Instructor] I'm in exercise file 02_02_Begin in the sheet named Data Forecast Sheet. If you have used Microsoft Excel 2016, you might have noticed a new feature on the ribbon's Data tab called Forecast Sheet. The available documentation for the forecast sheet does not specify how the forecasts are created, but the names of the functions and some of the vocabulary used in the documentation indicates that the intent is to duplicate the approaches that are usually termed simple exponential smoothing, Holt's method for forecasting trended baselines, and and Holt winters or seasonal smoothing, as discussed in the present course. Here's a brief look at how to use the forecast sheet. I'll use this data which comes from a generally accessible website so that you can duplicate the analysis if you wish to do so using Excel formulas or the Excel forecast sheet or R. To use the forecast sheet, put time period identifiers in one column, such as column A here. In a column adjacent and to the…
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