One of the coolest features of Excel 2016 is forecasting. Today, let’s understand how it works with a sample data set.
Introduction to forecasting in Excel 2016 – video
Watch below video to understand forecasting in Excel 2016.
You can also watch this video on our YouTube Channel.
Download Example Workbook – Forecasting in Excel 2016
Click here to download the example workbook for this lesson. Remember, this only works in Excel 2016 or above.
Learn more about Forecasting & Trend analysis in Excel
Check out below tutorials & podcasts to learn more about forecasting & trend analysis using Excel.
- Trend analysis using Excel – an overview podcast
- Trend analysis using Excel – part 1, part 2 and part 3
- Show forecast values in Excel charts in another color
Have you tried Forecasting feature in Excel 2016?
I have played with the feature a few times and I like the simplicity. I think it would be great if Excel can deal with multiple series of data too, but I guess that is asking for too much in v1.0 of this feature.
What about you? Have you tried the forecasting feature of Excel 2016? What are your thoughts? Please share in the comments section.
PS: In the video you can see glimpses of our new life in Wellington, NZ 🙂
9 Responses to “Introduction to Forecasting in Excel 2016 [Charts & Visual Analysis]”
Great feature - Thanks for the overview 🙂
Hi
How is 2016 excel is this fast than 2010
hi Chandoo, hello from across the ditch. welcome to this side of the world neighbor. A big fan of your website all the way from Australia.
Thanks Pallavi. 🙂
Hi Chandoo
It's good to see pictures of Wellington which brings back memories when my family used to live there. Welcome to NZ and I live in Auckland now.
thanks for all your tips in Excel - really helpful.
Regards
I'd like to find out more? I'd care to find out some additional information.
Hi Chandoo! Awesome!!! one question.... same data set (1st row has dates and bottom row numbers) and if date and numbers are instead in a column, the data forecast is not the same? This is what I've notice. If horizontal configuration, it will drop one of my months but not if in columns.
Thank you Rob and welcome to Chandoo.org.
I think this is a limitation of using Forecast Sheet button. I have not tested it, but on the "Forecast" options screen, is there a way to tell Excel where your dates are?
If not, one option is to use FORECAST.ETS() function directly. This gives you most flexibility.
If you prefer to use the Forecast Sheet button, then use Power Query (or manual method) to transpose your table first.
The forecast Function
=Forecast(x,Known X's, Known Y's)
works in both Rows and Columns
I'll need to check