Corality receives many queries about excel forecasting, which techniques to use and how to interpret the resulting data. Liam Bastick, Director of Corality in Melbourne, shares his take on it in a new article posted on the prestigious Chartered Institute of Management Accountants website – Spreadsheet skills: trendy forecasting in excel.
Liam’s article guides you through the maze of excel forecasting, including
- The techniques to use, when and how to interpret the ensuing data
- Regression analysis, rolling forecasts and moving averages
- Standard measures of forecast errors
- Difficulties and limitations in forecasting techniques
To illustrate how to apply regression analysis, the article provides a hypothetical example to demonstrate the relationship between marketing expenditure and sales levels.
Relationship between Marketing Expenditure and Sales Levels
The article also covers the presence of errors in forecasting and how to assess forecast accuracy using measures of forecasting errors.
It’s an interesting read – be sure to read it here!
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