From the course: Excel for Business Analysts
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Forecasting with business analytics data - Microsoft Excel Tutorial
From the course: Excel for Business Analysts
Forecasting with business analytics data
- [Illustrator] One of the most powerful elements of Excel particularly when it comes to applications in business analytics are the forecasting tools. While there's plenty of different forecasting software packages out there, Excel is really nice for being able to kind of go through, understand the data and then spit out simple forecasts effectively. Let's take a look at an example. I'm in the zero three zero five begin Excel file. Now what we've got here is data on six different locations and we've got daily number of customers kind of coming through each location. So I want to start by just creating a simple forecast and we're going to do this for the organization as a whole as well as each individual location. So to illustrate that power I'll use a familiar formula in Excel, the sum function. And basically I'm just looking here at the number of customers that we have coming through the door across the entire organization.…
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