From the course: Excel: Sales Forecasting
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Interpreting your forecast
- [Illustrator] Once you've put together your basic data set and run a regression. It's time to jump in actually try and interpret what it's telling you. In other words, to build out a forecast and examine is the business in good shape or not. Let's take a look at how this works. I'm in the zero four zero three begin Excel file. So we've gone through and taken our basic transaction by transaction data and I've cleaned it up a little bit and run a new regression based on the variables that we've got. We're interested in this particular regression in the total invoice amount based on party size, the discount percentage that is did we send a coupon of some sort to the person, the level of wait time for the person's food or the parties food I should say, the wait time before the party was served and then who their server or waitress was. And again, while this data is based on a hypothetical restaurant, this concept…
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