Predictive Model in Excel - Excel Tips and Tricks - video Dailymotion

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Learn how to forecast home value using Excel.  To make a FORECAST in Excel, you can use the FORECAST function, which predicts future values based on past data. Excel is good for forecasting because it provides various built-in functions and tools for data analysis. The formula for forecasting is =FORECAST(x, known_y's, known_x's), where x is the data point you want to predict, known_y's are the known values, and known_x's are the corresponding time points. To create a predictive model in Excel, you can use the Data Analysis Toolpak or build a regression model with the LINEST function. The forecast sheet option is found under the "Data" tab in Excel, where you can select "Forecast Sheet" to create a visual forecast based on your data.  How to make a FORECAST in Excel? Is Excel good for forecasting? What is the formula for forecasting? How to create a predictive model in Excel? Where is forecast sheet option in Excel?  The FORECAST (or FORECAST. LINEAR) function in Excel predicts a future value along a linear trend. The FORECAST. ETS function in Excel predicts a future value using Exponential Triple Smoothing, which takes into account seasonality or aggregation.  ETS. CONFINT function returns a confidence interval for a forecast value at a specific point on a timeline (i.e. a target date or period). It is designed to be used along with the FORECAST. ETS function as a way to show forecast accuracy.  SEASONALITY Returns the length of the repetitive pattern Excel detects for the specified time series.  STAT Returns a statistical value as a result of time series forecasting.  predictive model in Excel,How to make a FORECAST in Excel?,Is Excel good for forecasting?,What is the formula for forecasting?,How to create a predictive model in Excel?,Where is forecast sheet option in Excel?,  Check out my complete suite of Microsoft Excel Tips and Tricks. https://www.youtube.com/@jjnet247/shorts https://www.tiktok.com/@exceltips247 https://www.instagram.com/exceltips247/ https://www.dailymotion.com/ExcelTips247 https://www.pinterest.com/ExcelTips247/excel-tips-and-tricks/ https://x.com/ExcelTips247/media https://www.reddit.com/r/Excel247/ https://www.facebook.com/XyberneticsInc/reels/  #microsoft #excel #tips #tipsandtricks #microsoftexcel #accounting #fyp #fypシ #exceltips #exceltricks

Transcript

00:00okay this excel tip is really interesting we're going to forecast what our home price will be in

00:04the year 2040 here given this historical price of the same home well in excel we have this function

00:11called forecast and there's six different forecast function that you can use the first four of them

00:18pertains to ets which stands for exponential triple smoothing which takes into account

00:23seasonality and aggregation this conf stand for confidence interval this is seasonality and this

00:31was statistics we're not going to cover any of these first four ets functions in this excel tips

00:38and tutorial we are going to cover using the forecast linear which assumes that the growth or

00:44the depreciation of the house is going to be a linear trend but if you have excel 2013 and or

00:51older

00:51you're going to have to use this forecast function here i'm going to double click this forecast

00:56linear here the first argument that is looking for is your x which is going to be our year in

01:02cell

01:03e4 which is covered by this formula here and the second argument will be the known y's which is

01:09going to be our home value and the third argument and the final argument is your known x which is

01:15going to be the year itself close parentheses and hit enter and according to excel's forecast

01:21function in the year 2040 using a linear model your home value is going to be this much

Predictive Model in Excel - Excel Tips and Tricks

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