Forecasting model

[nbkek2p]

Hi Mr. Excel,

well i have been working on a forecasting model for some days now and need your help on this. I have a data set for 2 years with month wise of volume receive. For Ex - jan 08' - 6000, feb 08' - 6500, mar 08' -4500, and so on. I want to make a forecasting model with using this data so that i can predict the future voumes. Hope u got my question. let me know if need more info on this.

 

[Hamburgler]

Hi nbkek2p,

There are many different approaches to forecasting time series data. This wikipedia article introduces some of them.

Ideally you would examine all of the available options and compare the performance of several appropriate models using historical data.

How far ahead do you want to predict? What method are you using in you current model? What (kind of volume) do you want to forecast?

Cheers,

 

[nbkek2p]

Hi,

Actually i have not decided yet which method to pick as i am in middle of choosing of it. Currently i m trying all the method and will see which one fits better. I want to predict the volume upto 1year only. So for ex i have two years volume and i want to predict third year volume.
Volume we receive is on daily basis. We receive request from customer for different issue related to there accounts. We process these request and send confirmation to the customer. Now on an average we receive 300 volumes in a day and 6000 on monthly basis. Now at the starting of the year, mid of the year and end of the year we generally gets hughe volume. So, i want to make a forcasting model in order to predict the future volumes so that we are prepared and equally staffed at that time.

Hope this help.

Have a nice day.

 

[shg]

See Example 2 in http://www.box.net/shared/5gi9g8x23p