FORECAST Function Guidance

mrhartley

Well-known Member
Joined
Mar 8, 2005
Messages
564
Hi,

Just stumbled across the FORECAST function a couple of days ago and was hoping that someone can explain the basics for me (maybe via a guide) or point out how might I use FORECAST in the following simple example.

I have tried it myself and I think I have been successful but I am looking for clarification.

example 1 - in column I3 I would like to forecast the next % base don the previous %
DTMA Trend.xls
BCDEFGHI
2Key Performance IndicatorsSep-05Oct-05Nov-05Dec-05Jan-06Feb-06Mar-06
3Test KPI90.00%90.54%96.05%94.19%92.45%95.06%
Sheet1


example 2
forecast.xls
BCDEFGHI
11234567
2Key Performance IndicatorsSep-05Oct-05Nov-05Dec-05Jan-06Feb-06Mar-06
3Test KPI90.00%90.54%96.05%94.19%92.45%95.06%95.97%
Sheet1


Have I got it right?

Thanks In Advance for any pointers. Like I say, just found this function and would like to try an take advantage of it more.
Regards
~Mark
 

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mrhartley

Well-known Member
Joined
Mar 8, 2005
Messages
564
They were good thanks.

That taught me that not only will FORECAST predict the next iteration based on a pair of numbers but will also predict when a target might be reached.

EDIT -With Simple Example
forecast.xls
CDEF
8DateWeight24/10/2006
905/08/200689predicted date for ideal weight of 70 kilos
1012/08/200687
1119/08/200685
1226/08/200684
1302/09/200682
1409/09/200681
1516/09/200679
1623/09/200677
1730/09/200676
1807/10/200674
19what I will weigh on the 7th october
Sheet1


Thanks again :)
~Mark
 

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