Forecasting data

Hi guys

I have a database like the photo below:

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Then I need to forecast what will happen for the rest of 2016 based on those data.

What should I do to have some reliable data?

Thanks guy.

Hi

To try and develop a reasonable estimate forecasting the future 9 months it would be handy to understand what the existing data is and what each item is dependent on. For example :-
a) what is being measured for each item
b) other than the number of days in the month what causes each total to change ie weekends, holidays. There could be multiple causes for change.
c) are any of the data points dependent on the others

The greater the knowledge of each of the items needing to be forecasted the more reasonable the estimates will be. Any trend analysis based on 3 months and extrapolated over a 9 month period is bound to be flawed and not necessarily reliable.

Any further information may assist in providing guidance in developing a solution for you.

Cheers

Hi

Thank you for your comments.

I understand that we have to consider many factors that will affect the measurement but I can't you much details about the data because of they are from my job.

So if we only use the database and forecast the trend of the data, like how much it will grow for the rest of the year and next year, which tools should I use? In Excel 2016, there is "Forecast Sheet" under Data tab, is it a good tool to make the forecast or what else I should do?

Hi

The formula utilised in the Forecast Sheet assumes a linear regression. I would suggest utilising the function on last year's data to test the estimates against actual results. This will give you some confidence that the forecast function is applicable.

Sorry I cannot be of much more help

Cheers