- #FREE FORECASTING SOFTWARE EXCEL HOW TO#
- #FREE FORECASTING SOFTWARE EXCEL DOWNLOAD#
- #FREE FORECASTING SOFTWARE EXCEL WINDOWS#
Understand: Number of unit sold = 102.4 times the unit cost - 191.64. Another right click allows us to display the exact form of the relationship: y = 102.4x - 191.64. Our trendline is now displayed on the chart. Later on, we will use other - more complex, but often more realistic - settings, like "exponential". Here again, we use our eyes: In this case, the dots are almost in a straight line, so we use the "linear" setting. Now, we have to select the relationship that seems to "fit" (i.e.
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In order to get an idea of the exact form of the relationship, we right click on the chart, and select the "Trendline" option. Now, we stop a few seconds and take a good look at what we see: the relationship seems to be increasing, and linear.
![free forecasting software excel free forecasting software excel](https://gmdhsoftware.com/wp-content/uploads/GMDH-Streamline-screenshot.png)
We want to estimate sales as a function of quality, therefore we put the unit cost on the horizontal and the sales on the vertical axes. To do this, we select our data, then use Insert > Chart, and chose the XY(Scatter) option. Your eyes are excellent tools that can help you identifying trends in a few seconds. We want to find a simple mathematical relationship between unit cost and sales, and then use this relationship to do our forecast.įirst, it is always useful to create a graph in Excel, in order to take a look at the data. How we get there: Here, it is pretty simple. What we want to know: If we sell another product, with a quality corresponding to a cost of $150/unit, how many units can we expect to sell? In the second one, data about how much has been sold. Our Data: In the first column, data about the unit costs of similar products (the unit cost reflects the quality of the product).
#FREE FORECASTING SOFTWARE EXCEL DOWNLOAD#
To repeat the steps by yourself, you can download the file. In this part, we will be using this file: Example1.xls. Viewing your data Let us now do our first forecast. to leave warnings to future users of the sheet (i.e.unit cost according to Mr Doe's estimates) to explain the content of a cell (i.e.Just do a right click on the cell you want to comment, and then select « insert comment ». Excel has a great solution to offer: comments. This applies especially if you come back to the data you have created a long time before.
#FREE FORECASTING SOFTWARE EXCEL WINDOWS#
It makes them easy to identify visually, and easier to find using the windows search function.Įven if you don't usually work with a large amount of data, it is still very easy to get confused. It takes little effort and speed things up. Give each file a clearly understandable name.It is incredibly likely for you to get confused, and it makes computations and data handling more difficult. Do not put different numbers (for example, you costs and your sales) on the same column. Use the first row of each column to describe the data it contains. The solution? Don't be messy: making good use of labels, comments and naming your files correctly can save you a lot of trouble.
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#FREE FORECASTING SOFTWARE EXCEL HOW TO#
How to make things easy: labels, comments, filenamesOver time, as you data accumulate, you will be more and more likely to get confused to make mistakes. So what you want to do is use all means at your disposal in order to reduce your stocks – without experiencing any shortages, of course. Going further: the example of exponential fittingīenefits of forecastingForecasting can help you make the right decisions, and earn/save money. Getting Started: a simple forecasting example using trendlines How to make things easy: labels, comments, filenames