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FORECAST in Excel - Step by Step Tutorial

The document explains the FORECAST and FORECAST.LINEAR functions in Excel, which predict future values based on linear trends. It also introduces the FORECAST.ETS function for predicting future values using Exponential Triple Smoothing, accounting for seasonality. Additionally, it describes how to create a Forecast Sheet for visual representation of forecasts in Excel 2016 or later.

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64 views8 pages

FORECAST in Excel - Step by Step Tutorial

The document explains the FORECAST and FORECAST.LINEAR functions in Excel, which predict future values based on linear trends. It also introduces the FORECAST.ETS function for predicting future values using Exponential Triple Smoothing, accounting for seasonality. Additionally, it describes how to create a Forecast Sheet for visual representation of forecasts in Excel 2016 or later.

Uploaded by

adel.briggs34
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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Excel Easy 

#1 Excel tutorial on the net

FORECAST in Excel
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.
✦ FORECAST.LINEAR
The FORECAST function is an old function. Microsoft Excel recommends using the
new FORECAST.LINEAR function which produces the exact same result.
1. The FORECAST.LINEAR function below predicts a future value along a linear
trend.

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helps us and the planet”

Explanation: when we drag the FORECAST.LINEAR function down, the absolute


references ($B$2:$B$11 and $A$2:$A$11) stay the same, while the relative
reference (A12) changes to A13 and A14.
2. Enter the value 89 into cell C11, select the range A1:C14 and insert a scatter plot
with straight lines and markers.

Note: when you add a trendline to an Excel chart, Excel can display the equation in
a chart. This equation predicts the same future values.
✦ FORECAST.ETS
The FORECAST.ETS function in Excel 2016 or later is a great function which can
detect a seasonal pattern.
1. The FORECAST.ETS function below predicts a future value using Exponential
Triple Smoothing.

Note: the last 3 arguments are optional. The fourth argument indicates the length
of the seasonal pattern. The default value of 1 indicates seasonality is detected
automatically.
2. Enter the value 49 into cell C13, select the range A1:C17 and insert a scatter plot
with straight lines and markers.

3. You can use the FORECAST.ETS.SEASONALITY function to find the length of the
seasonal pattern. After seeing the chart, you probably already know the answer.

Conclusion: in this example, when using the FORECAST.ETS function, you can also
use the value 4 for the fourth argument.

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✦ Forecast Sheet
Use the Forecast Sheet tool in Excel 2016 or later to automatically create a visual
forecast worksheet.
1. Select the range A1:B13 shown above.
2. On the Data tab, in the Forecast group, click Forecast Sheet.

Excel launches the dialog box shown below.


3. Specify when the forecast ends, set a confidence interval (95% by default),
detect seasonality automatically or manually set the length of the seasonal
pattern, etc.
4. Click Create.
This tool uses the FORECAST.ETS function and calculates the same future values. 

The lower and upper confidence bounds are a nice bonus.

Explanation: in period 13, we can be 95% confident that the number of visitors will
be between 86 and 94.

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Statistical Functions
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