Excel function FORECAST
The FORECAST function extrapolates a new value based on values that are already known.
Here is an easy example:
Let's say that we want to predict sales figures from 2011 to 2015.
- In the "X" box, enter 2011, because we want to predict the sales figures for 2011.
- In the "Known_y's" box, enter a data range that contains the business figures.
- In the "Known_x's" box, enter a data range that contains the years.
After validation and AutoFill, all the predictions will appear (each takes the preceding year into account).