Predict your data with Excel Forecasting

 Aug 29, 2018

Predict your data’s future using a Forecast Sheet 
(Excel 2016 – Subscription Version)

Did you know that you can easily create a forecast when you’re working with time-based data in Excel? Forecasts help you determine trends in your data and they give you an idea of what to plan for in the future. This blog is written to provide you with the tools you need to predict sales, forecast business finances or predict demand for your product.

To create a forecast sheet, your data needs date or time entries with consistent intervals. For example, let's say you have a worksheet with monthly sales figures for the past year. Even if you're missing the corresponding sales figures for a month or two, you can still create a forecast.

Click on a cell within your data series, then click on the main ribbon’s Data tab. In the Forecast group, click on Forecast Sheet. (When you click the Forecast Sheet button, Excel automatically selects your entire data series.) 

Click on the Line Chart button or Column Chart button in the upper-right corner of the Create Forecast Worksheet dialog box, choosing the option that best represents your data. Select an end date from the Forecast End menu, and then click Create.

The forecast chart displays within your worksheet, providing a forecast for the future along with an upper and lower confidence bound to give you an idea of the best- and worst-case scenarios.

Do you want to learn more tips and tricks in Excel or learn more about working with Office 365, call 1300 794 006 or send your enquiry to [email protected].

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About the Author:

Alice Antonsen  

Alice is one of New Horizons’ most experienced Desktop Applications trainers. She is qualified with a Diploma of Business (Computing) and a Diploma of Information Technology. Since joining New Horizons in 2006, Alice has achieved the prestigious status of a certified Microsoft Office Master and for the past 4 years, has been placed in the Top 25 Desktop Applications trainers for New Horizons Worldwide. Throughout her career, she has gained a wealth of knowledge and experience in providing training to individuals and groups of varying skill levels. Alice delivers each training session with great care and consideration ensuring each one is tailored to the learning needs of her students.

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