Forecasting in Excel Made SIMPLE (include seasonality & make predictions)
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- เผยแพร่เมื่อ 10 มิ.ย. 2024
- Get Access to My Course "Fundamentals of Financial Analysis" HERE: www.xelplus.com/course/learn-...
In this video I'll show you how easy it is to create a forecast in Microsoft Excel. A forecast can help you predict things like future sales, inventory requirements, or consumer trends based on historical data. We'll use The Home Depot's quarterly sales data to make predictions for the upcoming quarters.
⬇️ Download the workbook here: pages.xelplus.com/forecasting...
We guide you through creating accurate forecasts and budgets in Excel, tailored for sales, manufacturing, and other key performance indicators (KPIs). You'll learn how to use Excel's Forecast Sheet. This feature turns historical data into accurate predictions with just a few clicks. This is especially helpful when you're working with seasonal data.
What You'll Discover:
▪️ Basics of Forecasting in Excel
▪️ Analyzing Historical Data for Accurate Predictions
▪️ Using Excel's Forecast Sheet for Easy Forecasts
▪️ Tips for Managing Seasonality in Data
This feature is available in Excel 2016 and higher. It automatically creates formulas with the FORECAST.ETS function with its exponential triple smoothing algorithm.
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00:00 How to Do Forecasts in Excel
00:37 Analyzing Historical Data
01:24 How to Use the Forecast Sheet
04:54 Wrap Up
🎬 LINKS to related videos:
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Excel for Accounting: • Excel for Accounting -...
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#Excel
Grab the file I used in the video from here 👉 pages.xelplus.com/forecasting-file
Hello Leila, thank you for your video. I have a question, hope you can help me out. I am looking for a forecasting method of copper price. Considering that I have historical price of copper, and other influencing factors such as: supply & demand, energy costs, alternative metals (aluminum, zinc,etc.), macroeconomic conditions, national policies,etc. In this case, which forecasting methods is suitable to use?
Thank you.
I really like that lately you had been choosing statistical functionality of excel to present as professional tutorials .. Thanks alot that is highly needed and helpful 🌸
Leila Gharani you are "MVP" in teaching! Amazing work with such simplicity!
I learned from your videos many functions: FILTER, SORT, ISNUMBER,... and many others!
I'm happy to learn still from you this new function (for me)!
Thank you Leila 👏👌🏽🙂
My one stop for all excel related questions! Thank you Leila for sharing knowledge. God bless!!!
Exactly what I'm looking for! Thanks for breaking it down into manageable chunks.
Yet another tool you've taught me! Thanks again and I'm forecasting greater success for you!
Leila, you are a star⭐,I am a beginner and didn't have a clue on what I was doing. You made it so easy to understand. Thank you xxx.
Lelia, following you from last four years and you always surprise me with excel functionality which is there but I don't know until you make it known to others..
Good functionality but there are lots of constraints to develop strong forecast.
Excel developments are mind blowing...wooohoooo
@Leila, love your videos for all the hard work you do! Thank you!
Nice as usual! Appreciate your consistency and zeal to bring out the best in Excel and educate us every week! Thank you Leila! 😊👍
Thanks for watching, Vijay!
@Armando Aranda dude she goin have kids wit me before you lmao you aint a thugga hugga you aint got no swagger
Thanks Leila, your tips are always inspirational in building my Data analysis carrier and TH-cam channel growing positively
thank you for the tutorials. everyone is excellent and extremely helpful.
Great thanks for the info you bring us regularly.
A solid forecast gives people a great idea of what needs to be done. Great tips!
Thank you!
you deserve all the good things in this world, thank you for sharing!
I love your voice , concept and language clarity .
This made my day! Saves a ton of time without having to manually using regression analysis formulas based on trendlines. THANK YOU!!
Thank you.... you are such a great teacher. I love your videos.
Hello Leila,
Today I updated my budget estimates for the next period and tried to derive the results by applying the rules specified in his tutorial. It was just a coincidence for me that you shared this explanatory tutorial today.
Thanks to you, I have identified my shortcomings in my estimations and have already corrected them.
The forecasting algorithm in Excel is very beneficial for data analysts and project managers like us, and learning these tips from a finance and excel expert like you is invaluable.
Thank you so much again.
Glad the video was useful, Emre!
Dont know what else to say, but I absolutely LOVE you! So much clarity and by the end of your video I've resolved my issue as well! 🥰🥰🥰
Wow. Yet another great feature of Excel I wasn't aware of. Thanks for sharing.
Great tip Leila! I really enjoy your videos, good stuff!
you the GOAT, always coming in with these gems
your my savior thank you so much !! I've been watching a lot of forecasting and my brain is gonna explode but when i came to you're video its easier to understand. so thank you.
I m so happy to discover this functionality.big thanks Leila. Of course you need to consider the environment after using the formulas but still Save the time to fill in gaps
FANTASTIC!!!
Thank you!
Great video as always! I wish you were making more financial stuff.
I will 😊 I have some planned .
I think, my emptiness and your forecasting video made me fall in love with you.
Thank you. Great tips as per usual!
very insightful....loved it!!
This is awesome, thank you so much
Love the shorter videos that give me great ideas/info. Thank you!!!
Glad you like them!
Thank you, this vide was extremely helpful. OMW to check the rest of your videos now!
Love It! Cool channel, thanks for having you here☺️
Thanks ! this was so helpful
Thanks for that video , very helpful!
Hi Leila. Great video! Thanks for the Forecasting feature demo and also the explanation and details.. very helpful :)) Thumbs up!!
Parabéns pelo vídeo.. Que ótima dica.. 👏👏👏
I love your voice, love your skills ❤️
I thought I was good in excel right up until I found this channel.
More than the function I admire your explanation, and the super topics you deliver. 🙂🙂🙂
Thank you! 😃
I worked with this to identify trends in products and services sold to help see where we needed to pay more attention in growing the company, great functions tho and everything was explained really good!
Thank you!
Been looking for something like this!
Thanks Leila for the video.. this is great help
Thanks for this beautiful video.
That’s great very useful. Thank you so much Leila take special care
Awesome ... another lesson learned , love it and gonna use it with others variable such as like new products launched or market expand's ratio added to complete the analyze between historical and seasonal's data
Just what i need. Thanks!
... thank you..very useful for my DBA....
Thank you Leila.
Great, direct and it is too clear
I love you Leila you are doing an amaziiiing job 💖 ❤ Thank you for your help 💜
Interesting. There are so many use cases for this tool as we approach the end of the year. Thanks Leila.
Hope it will come in handy.
Wow definitely this is a powerful tool
I would love to use this function to forecast how many calls we will get in our centre. I feel so enabled watching your tutorial ❤️
That's great! Hope it will come in handy for you.
Pretty helpful, thanks a lot!
I literally worked with this function 👍
Thank you for this valuable lesson.
We don’t use these specialised functions enough (and as I remember this, it sure has grown over the years).
My pleasure, Geert! True, these are great functions.
Revisiting your economics background on this one! Great video Leila!
Excellent Thanks Leila Gharani
Looking Forward to more Accounting Topics..
Always learn something new. This video came in very handy. Thankyou
Glad to hear that!
Brilliant as always
Happy Thursday your highness
Thanks for watching!
Thanks so much for all your videos!!!
Thank you!
You are Heaven sent!
Indeed such an educative video thank you for posting this for us.❤
My pleasure 😊
Amazing 👏 and very useful 👌
I'm gonna try it this monday, hope it'll help me :)
Very good presentation..You sound soothing..
This is great, thanks Leila!
Thanks for stopping by, Chris!
This looks very useful... similar to what I'd do manually. It'd be useful if you can explain further the excel formula and the logic behind it to be able to adjust the results and present them to an audience.
Love your content! I am looking forward to the new DAX and power pivot course!
Excuse me but may I ask you a little about the actual demand forecasting job?
I'm working in production, but I'm looking for more knowlege about the Supply Chain, especially in Demand forecasting, then I had an interview with an Retailer company, the director told me that the time cycle series forecast is just a so basic method in that major, but I've found a lot on the Internet and I just see all kind of that "basic" method. Like Moving Average, Exponential Smoothing, Regression Analysis,..
Is there any more knowlege (or method) I need to learn if I want to work in Demand Planning Jobs?
I dont work as a demand planner but very close. I would say there is no the best method for forecasting, you just need to make your own towards your needs. Moving average doesnt match when you have a lot of oscilations in demanding. You have to set up your method which follows trends, seasonality, sales, etc. More variables in one formulas…. Also, you have warehouse for that, if you didnt plan as good as you need, your stock will cover you for X days. Maybe my topic isnt helpful but i am at your service for additional questions..
Woow.... I'm awed. Econometrics made easy.
Awesome...Love and learn...
Great Video, thank you very much!
Glad you liked it!
Hi, your explanation is amazing. Thank you
Glad it was helpful!
Thank you so much 🥰
You are a god of excel
Nice video and explanation. Now is time to forecast something :)
Thank you, I enjoy your videos
Glad you like them!
Literally was looking for this yesterday for a cost volume model I need to pull together. This is great as I wasn’t sure how to pull the seasonality from previous data
Glad I could help!
Nice video - i will use it and share to peers
Ağzina sağlık ses hayran kaldım
Amazing video
Thanks, that was easy!
👍
Thanks a lot
Very useful 👍
Thanks Leila!
Thanks Teacher
Brilliant! 🤙
Nice insight
As allways great tips from you :-)
Thank you
Hi Leila!
This is brilliant.
Can I get the math behind the statistical points please (Eg: Formula of exponential forecasting) ?
Awesome.👍🏾
Very nice, thanks you 😊🥰🥰
Welcome 😊
Beautiful
Thanks!
You are unbelievable thanks 🙏 so much
You're most welcome, Gianluigi!
helpful topics -
Very gret video, i like very mach. kep up de god vork