Use Of FORECAST
Month
|
Sales
| |||||
1
|
£1,000
| |||||
2
|
£2,000
| |||||
3
|
£2,500
| |||||
4
|
£3,500
| |||||
5
|
£3,800
| |||||
6
|
£4,000
| |||||
Type the month number to predict :
|
12
| |||||
The Forecast sales figure is :
|
£7,997
|
= FORECAST (E11, F4: F9, E4: E9)
| ||||
What Does It Do ?
| ||||||
This function uses two sets of values to predict a single value.
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The predicted value is based on the relationship between the two original sets of values.
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If the values are sales figures for months 1 to 6, (Jan to Jun), you can use the function
| ||||||
to predict what the sales figure will be in any other month.
| ||||||
The way in which the prediction is calculated is based upon the assumption of a Linear Trend.
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Syntax
| ||||||
= Forecast (Itmtoforekast, Rangey, Rngeks)
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ItemToForecast is the point in the future, (or past), for which you need the forecast.
| ||||||
RangeY is the list of values which contain the historical data to be used as the basis
| ||||||
of the forecast, such as Sales figures.
| ||||||
RangeX is the intervals used when recording the historical data, such as Month number.
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Formatting
| ||||||
No special formatting is needed.
| ||||||
Example
| ||||||
The following table was used by a company considering expansion of their sales team.
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The Size and Performance of the previous teams over a period of three years were entered.
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The size of the New Sales team is entered.
| ||||||
The =FORECAST() function is used to calculate the predicted performance for the new sales
| ||||||
team based upon a linear trend.
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Year
|
Size Of
Sales Team |
Known
Performance | ||||
1996
|
10
|
£5,000
| ||||
1997
|
20
|
£8,000
| ||||
1998
|
30
|
£8,500
| ||||
Size Of The New Sales Team :
|
40
| |||||
Estimated Forecast Of Performance :
|
£10,667
|
=FORECAST(E43,E39:E41,D39:D41)
| ||||
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