Estimation & Forecasting in Excel

Forecast with Formulas & Tool based on Statistical Models. Estimate using Goal Seek, Scenario Manager, and Data Tables.

What will you learn in this course?

Businesses need accurate forecasting to stay ahead. Inaccurate forecasting can lead to missed opportunities for organizations and embarrassment. Excel provides you with several tools that use statistical models for forecasting and estimation.

Forecasting

Forecasting is a skill that is highly valued. However it is a difficult skill to master, and a skill that is fraught with risks.

Statistical models improve accuracy, however they are difficult to implement.

You can learn forecasting techniques in Excel to forecast more accurately based on these models without having to go through the detailed computations yourself.

Goal seek & scenarios

Any planning process requires careful estimation and planning for scenarios.

As you go through iterations, the complexity increases significantly.

You'll learn how to use Goal Seek and Scenario Manager to take the guess work out and be assured of your estimates and have easily access to scenarios before you take critical decisions.

PMT or EMI

Calculating monthly instalments that you need to pay for business loans or even personal ones can be confusing.

You often rely on tools or experts to provide you that information.

Learn how to do this on your own using the PMT formula. You can even evaluate scenarios between different interest rates and payment durations by creating data tables.

How will this course help you?

A thorough understanding of forecasting techniques will help you eliminate guesswork and manual estimations. You will garner an understanding of tools that will help you forecast, manage scenarios, get accurate estimates in a simple yet accurate way.

Predict performance

No matter what your role, there is always a need to predict key metrics in your business. It could be revenue, demand, need of raw material, or any other resource.

Inaccurate estimates can save or cost you or your organization. However, estimates based on time-established statistical models can help you be more accurate and present a strong business case.

You don't have to be a statistician to estimate accurately. You can use Excel to do the difficult computations; and you can be more confident of your work.

You'll learn formulas, and visual estimation techniques in this course to level up your game.

Estimation

In addition to predicting, estimation plays a big role. Instead of guess work, you could use tools provided by Excel.

These will help you take away the pain of calculation and also increase accuracy.

Scenario Planning

Ever been in a planning discussion, where multiple ideas are discussed and you need to make projections for each one of them.

It could be difficult to keep up as you, your supervisor and your colleagues do back and forth between scenarios.

You'll be able to avoid the chaos and confusion using tools such as scenario manager which allow you to alternate between scenarios through just a click.

A young man wearing headphones and looking at a laptop with focus

What all does this course include?

You'll have access to all these benefits once you enroll in this course

Short lessons for a quick understanding

Personalized feedback on assignment

Course Certificate on approval of assignment

Earn a Skill Badge on approval of assignment

Link to add certificate to your LinkedIn profile

Invitations to upcoming webinars

Discussion forum for clarifying doubts

Downloadable worksheets for practice

Course Curriculum

Estimation and Forecasting
6 Lessons
- Download Resource File
  Start
- Making Forecasts Based on Past Data using the Forecast Formula
  Start
- Making Forecasts for Multiple Months Using Forecast Sheet
  Start
- Making Estimates Using Goal Seek
  Start
- Evaluate Projections Using Scenario Manager
  Start
- Calculate Monthly Expenditure Matrix (EMI or PMT) for loan based on Interest & Duration
  Start
Wrap-up
3 Lessons
- Quiz - Estimation and Forecasting
  Start
- Final Words
  Start
- Assignment
  Start

Get access to the course

Working on forecasting techniques means a deep understanding of statistical models and patient application of the formulas required to calculate the forecasted values.

Or you could just use Excel and let it take care of the calculations and letting you focus on the business.

Enrol in this course if you want Excel to predict, estimate and do all the time-consuming calculations for you.