From the course: Excel: Market Research Strategies

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Regressions for forecasting

Regressions for forecasting - Microsoft Excel Tutorial

From the course: Excel: Market Research Strategies

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Regressions for forecasting

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- [Instructor] One useful tool for forecasting in market research field, are regressions. But regression by itself is of limited value. It tells us what factors affect sales, but not what our sales will be. But we can take the information from the regression and use it to create a demand forecast. Let me show you what I'm referring to. I'm in the 0108 begin Excel file. Now in this particular file we've pulled information from our 0103 wholesale sheet, so that first sheet shows us all of the sales for this firm over a period of time. I've pulled select pieces of data to let us run a regression and what we're going to be interested in doing is understanding how price, month and then the type of product impact the quantity sold. The regression is a good tool for us to start to do that. So I'm going to go to the data tab and this is where we would normally find a regression, but wait, what's going on? There's no analysis tool…

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