Explanation
Sales forecasting estimates future sales using historical data.
Excel provides several forecasting options, including Forecast Sheet.
Example Dataset
|
Month |
Sales |
|
Jan |
₹80,000 |
|
Feb |
₹85,000 |
|
Mar |
₹92,000 |
|
Apr |
₹98,000 |
|
May |
₹1,05,000 |
|
Jun |
₹1,12,000 |
Forecast Sheet
Select the historical data and use:
Data → Forecast Sheet
Excel can generate:
- Historical data
- Forecast values
- Forecast chart
- Confidence intervals
Important Concepts
- Forecast Period
- Confidence Interval
- Seasonality
- Historical Data
- Forecast Values
Practice
Create a sales forecast for the next six months using historical monthly sales.