FORECAST

• How to use FORECAST formula?
• Examples of using FORECAST formula
• FORECAST formula not working?
• Similar formulas to FORECAST

Usage

Use the FORECAST formula with the syntax shown below, it has 3 required parameters:

=FORECAST(x, data_y, data_x)

1. x (required):
   The x value for which you want to predict the corresponding y value.
2. data_y (required):
   An array or range of the y values in the data set.
3. data_x (required):
   An array or range of the x values in the data set, corresponding to the y values in the data_y parameter.

Examples

Predicting future sales

A business can use FORECAST to predict future sales based on previous sales data. By inputting the known sales values as data_y and the corresponding time period as data_x, a business can predict future sales by inputting a future time period as x.

Budget forecasting

A company can use FORECAST to predict future costs or revenue based on previous data. By inputting the known cost or revenue values as data_y and the corresponding time period as data_x, a business can predict future costs or revenue by inputting a future time period as x.

Stock price prediction

Investors can use the FORECAST function to predict the future stock price of a company based on its past performance. By inputting the known stock prices as data_y and the corresponding time period as data_x, investors can predict future stock prices by inputting a future time period as x.

Common Mistakes

Incorrect data range

One common mistake is to select the wrong data range for the data_y and data_x arguments. Make sure the data ranges are correct and include all the necessary data points.

Non-numeric input

Another mistake is to include non-numeric values in the data_y and data_x ranges. Make sure all values are numeric and formatted as numbers.

Insufficient data points

If there are not enough data points in the data_y and data_x ranges, the forecast may be inaccurate or not possible. Make sure there are enough data points for an accurate forecast.

Incorrect x value

Make sure the x value used in the formula is within the range of the data_x values. Using an x value outside of this range will result in an inaccurate forecast.

Missing arguments

Make sure all three arguments (x, data_y, and data_x) are included in the formula. Leaving out any of these arguments will result in an error.

Related Formulas

The following functions are similar to FORECAST or are often used with it in a formula:

• TREND

  The TREND formula is used to calculate future values based on historical data. It fits a straight line (using the method of least squares) to the arrays specified in the known_data_y and known_data_x parameters and then uses that line to calculate new y-values for the array specified in the new_data_x parameter. If b is set to TRUE, then the calculation will include the y-intercept of the line. This formula is commonly used in forecasting and trend analysis.

• LINEST

  The LINEST formula is used to calculate the statistics for a line by calculating the line's slope and y-intercept. It is commonly used to find the best-fit straight line for a given set of data points.

• SLOPE

  The SLOPE formula calculates the slope of the linear regression line that best fits the input data. It is commonly used in statistics to analyze trends and predict future values based on past performance.

• INTERCEPT

  The INTERCEPT function calculates the point where the line of best fit for a set of data intercepts the y-axis. This function is commonly used in regression analysis to find the constant b in the equation y=mx+b where m is the slope of the regression line.

Learn More

You can learn more about the FORECAST Google Sheets function on Google Support.