From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
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Seasonal smoothing and horizontal baselines
From the course: Business Analytics: Forecasting with Seasonal Baseline Smoothing
Seasonal smoothing and horizontal baselines
- [Instructor] I'm in exercise file 01_05_Begin on the worksheet named Initialize the Level. Now that we have the baseline's level initialized along with its seasonal effects, we can start the process of forecasting, the first step in that process is to define a range name that uses a mixed reference. That is in this case, an absolute reference to a column and a relative reference to a row. The purpose of the name is to pick up the value of the seasonal effect on the previous time the season took place. I'm going to switch worksheets here to Get Seasonal Effects. Start by selecting cell H8, click the Formulas tab on the ribbon, and locate the defined names group. Click the Define Name button. In the Name headed box, type the name OneYearBack. In the Scope dropdown, select the name of the active worksheet here that is Get Seasonal Effects. Enter a comment if you'd like, something such as last year's seasonal effect. Drag through whatever you see in the Refers to edit box and click in…
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