The FORECAST (or FORECAST.LINEAR) function in Excel predicts a future value along a linear trend. The FORECAST.ETS function in Excel predicts a future value using Exponential Triple Smoothing, which takes into account seasonality.
The FORECAST function in Excel is used to predict a future value by usinglinear regression. In other words, FORECAST projects a future value along a line of best fit based on historical data. The syntax of the FORECAST function is as follows: FORECAST(x, known_y's, known_x's) Where: ...
4. The equation for the FORECAST function is: y = a + bx where and and and are the averages of know_x’s and known_y’s. Return value It returns a numeric value. Example As shown in the table below, there is a list of monthly sales from January to August, to predict the sales...
Note:In Excel 2016, the FORECAST function was replaced with FORECAST.LINEAR as part of the newForecasting functions. The syntax and usage of the two functions are the same, but the older FORECAST function will eventually be deprecated. It's still available for backward compatibility, but...
Example #1 – Basic Forecast Formula in Excel There are some known Y and X values, so a user wants to calculate the known Y 30 value for known X based on past data, which is known Y and known X. Let’s see how the Forecast Function can solve this problem. ...
Read More: How to Forecast Revenue Growth in Excel Method 2 – Applying the FORECAST Function Similarly, you can use the FORECAST function or the FORECAST.LINEAR function to forecast revenue for the upcoming year. The formula is as follows: =FORECAST(B13:B15,C5:C12,B5:B12) Here: new_x’...
The FORECAST.ETS function in Excel is used to forecast data using an exponential smoothing algorithm. Exponential smoothing is a method in statistics used for smoothing time series data by assigning exponentially decreasing weights to future values over time. This differs from a simple moving average...
In a worksheet, enter two data series that correspond to each other: A series with date or time entries for the timeline A series with corresponding values These values will be predicted for future dates. Note:The timeline requires consistent intervals between its data points. For exa...
4. The equation for the FORECAST function is: y = a + bx where and andandare the averages of know_x’s and known_y’s. Return value It returns a numeric value. Example As shown in the table below, there is a list of monthly sales from January to August, to predict the sales ...
As a recommended modeling best practice, we’ve calculated the totals for the Year 2022, for which we use the “SUMIF” Excel function to add the relevant figures. Monthly ➞ Annual Excel Formula “=SUMIF (Range of Expected and Actual Columns, “Expected” or “Actual” Criteria, Range ...