The FORECAST (or FORECAST.LINEAR) function in Excel predict future value in a linear trend.
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Note: the FORECAST function is an old function. Microsoft Excel recommends using the new FORECAST.LINEAR function which produces the same result.
How to use the Forecast function in Excel
FORECAST.LINEAR
1. The FORECAST.LINEAR function below predicts the future value according to a linear trend.
Explanation: when we pull down the FORECAST.LINEAR function, the absolute references ($B$2:$B$11 and $A$2:$A$11) remain, while the relative references (A12) change. changed to A13 and A14.
2. Enter the value 89 in cell C11, select the range A1:C14 and insert the chart below.
Note: when you add a trendline to an Excel chart, Excel may display the equation in the chart. This equation predicts the same future values.
FORECAST.ETS
The FORECAST.ETS function in Excel 2016 and later is a great function that can detect future trends.
1. The FORECAST.ETS function below predicts the future value using Exponential Triple Smoothing.
Note: The last 3 parameters are optional. The fourth parameter indicates the length of the seasonal pattern. The default value of 1 indicates that seasonality is detected automatically.
2. Enter the value 49 in cell C13, select the range A1:C17 and insert a scatter chart with lines and markers.
3. You can use the FORECAST.ETS.SEASONALITY function to find the length of .
Conclusion: in this example, when using the FORECAST.ETS function, you can also use the value 4 for the fourth parameter.
Table Forecast
Using tools Forecast Sheet in Excel 2016 and later to automatically generate a visual forecast table.
1. Select the range A1:B13 shown above.
2. On the Data tab, in the Forecast group, click Forecast Sheet.
3. Specify when the forecast ends, set confidence interva (95% by default),…
4. Click Create.
This tool uses the FORECAST.ETS function and calculates the same future values.
Explanation: over a period of 13, we can be 95% confident that the number of visitors will be between 86 and 94.
In addition, you can also view many other excel articles here.
