Excel Tips - Tip 40 (Using FORECAST Command)

Hello,

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Here is Today’s tip for you. Hope this help you.

If ever we want to forecast any value , then we can use a command “ FORECAST”.  It is help us in preparing Budget, Setting Targets etc.

What Does It Do ?

This function uses two sets of values to predict a single value. The predicted value is based on the relationship between the two original sets of values.

The way in which the prediction is calculated is based upon the assumption of a Linear Trend.

How to use it ?

'=FORECAST(Item To Forecast , Range Y ,Range X)

·         Item To Forecast is the point in the future, (or past), for which you need the forecast.

·         Range Y is the list of values which contain the historical data to be used as the basis of the forecast, such as Sales figures in our Example given below.

·         Range X is the intervals used when recording the historical data, such as Month number in our Example given below.

For examples please check the below images

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CA Mohit Bansal

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