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Showing posts with label Moving Average Sales Forecast. Show all posts
Showing posts with label Moving Average Sales Forecast. Show all posts
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How to Forecast Sales in Excel

Every business needs to have a proper future planning in order to grow and prosper in a good manner. Though none of us can have an idea about what lies in future, still making no efforts for future will only lead to a sure failure. Forecasting is used in various departments in the organization such as finance, sales, manufacturing and so forth.Creating forecastscan be very cumbersome process. Unless you have a computer software that automatically forecasts for you, Excel has great features allows you to forecast.

Some of the most important Forecasting Methods Excel Dummies teach are as follows:

1. Traditional Methods: Traditional methods are the most effective methodologies of forecasting. 
  • Annual Forecasting: Variance is spread proportionally on a month to month basis for the remainder of the year. 
  • Monthly Forecasting: Current variances are assumed to be permanent and remain in the predicted figures. 
  • Quarterly Forecasting: Variance is spread proportionally within the quarters in the future. 
  • Run Rate Forecasting: Run rate is basically average and your data is divided by the number of periods.
2. Quantitative Methods: With Time Series Methodslooks at variable and collect the data from different time intervals.
  •  Moving Average: Model moves one period each time and it uses the most recent value.  
  • Exponential Smoothing: Exponential Smoothing is used for short term predictions. More weight is applied to most recent observations. 
  • Linear Trend Analysis: This model simply estimates the future values based on various kinds of trends or seasonal patterns in our data by using best-fit straight line.
When these calculations are done in the right way through right tools, the results are marvelous and accurateforecasts. Please visit Excel Dummies for to learn more about Forecasting Techniques and Data Analysis in Excel.

Tuesday, 28 February 2012 Labels: , , , , , , ,