Exponential Smoothing in Excel (Find α) | Use Solver to find smoothing constant alpha

This video shows
1) How to calculate exponential smoothing forecasts in Excel
2) How to calculate MAD, MSE, and MAPE in Excel.
3) How to use Excel Solver to find α

[kamalpatro]

One of the best videos available on YouTube! Shame it isn't reaching a lot of people in need of videos like these

[braed]

This is an absolutely fantastic video and it helped me immensely. Well narrated, clear and concise, THANK YOU SO MUCH!!

[kk]

Extremely clear. Very helpful! THANK YOU!

[xfgnuql]

This man explaining things to me that my 15k a year MBA teacher can't. Drop a link I'd love to donate.

[michael]

Thanks for these videos. I watched your whole forecasting playlist and found it very helpful!

[SigmaMotivatlon]

This video helped with my business analytics module thank you!

[NoName-yrnu]

OMG thank you so much. I've been struggling to find the best alpha using trial and error method ( as my teacher recommends) and this helps me a lot in my final BA exam next week.

[the_melon_]

Thanks Alot, this video really helped me out in school

[leonidas]

Is it possible to get just a zero for alpha? Resulting in same number of Month1 demand for all the forecasts?

[ezrasplace]

Hello, I hope you are still active.. I would like to know how to solve for alpha and beta for double exponential smoothing and I believe optimization also helps. Cant find any useful tutorials in youtube though

[tanushreesingh]

your accent makes it so much better, you sound so cute and thank you for the amazing explanation

[kaustavsengupta]

You should make Udemy course on excel prediction algorithm....this is gold

[KimTungs]

So good but i wonder how to determine alpha at the beginning

[jakeflane]

Great video on how to do it. Curious though, how would you get alpha in the first place?

[alongtheway]

QUESTION:
How did you conclude that 1 - alpha = 0.6?
Is it always 0.6?

For example, if we are starting with an alpha of 0.4, what would the 1- alpha be?

Thank you for your helpful insight.

[chisomfinbarrs]

So please how can this help me predict for upcoming months?

[eddydubois]

Question; when running solver I'm getting an alpha result of 0.39359 rather then the .30841 that you are getting. I have triple checked all the data is being input correctly the same as you have. The MAD MSE & MAPE scores are all off as well. :/ Not sure what's going on here.

[ANNYEONGx]

MSE, you need to take (Total Error ^ 2 / n -1 )

[Sandycxh]

does it means that i can assume any value as long as it is more than 0 and less than 1 for Alpha?

[dheatrullyanisavitri]

why did you use GRG nonlinear for solving method, sir?