3 Forecasting Methods in Excel

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Three common ways to predict future sales based on historical data in Excel. The first method involves calculating the average of past sales figures, which provides a simple and quick estimate by assuming that future sales will align with the historical mean. The second approach is using the TREND function, which fits a straight line through historical data points and projects future values based on this linear pattern, making it effective when sales follow a steady trend. Lastly, the FORECAST.ETS function leverages exponential smoothing to account for seasonality and trends, making it a more sophisticated option for datasets with recurring patterns or fluctuations over time.

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I like this. Happy new year, brother!

Bruce_Quin
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And if my boss ask me, what are the assumptions for this forecast?
How do i answer him?

cepitjepi
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Does the ets use some sort of smoothing of the data?

hikari
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RussellKristen