Excel

FORECAST.ETS.STAT: Excel Formulae Explained

How do you use FORECAST.ETS.STAT in Excel?

Excel's FORECAST.ETS.STAT function allows you to predict future values of a data set based on existing data. The function takes four arguments: the data set you want to predict, the column of data you want to use as the predictor, the number of periods you want to forecast, and the prediction method. The function will return a value in the cell you specify as the prediction. The prediction method can be one of four options: "linear," "exponential," "logarithmic," or "polynomial." The "linear" prediction method is the default, and uses a straight line to predict future values. The "exponential" prediction method uses a curve that increases exponentially. The "logarithmic" prediction method uses a curve that decreases exponentially. The "polynomial" prediction method uses a curve that increases or decreases depending on the order of the polynomial.

What is the syntax of FORECAST.ETS.STAT in Excel?

The syntax of FORECAST.ETS.STAT in Excel is as follows:

=FORECAST.ETS.STAT(x,y,z,a,b,c)

Where x, y, and z are the input data, and a, b, and c are the coefficients that determine the shape of the function.

What is an example of how to use FORECAST.ETS.STAT in Excel?

The FORECAST.ETS.STAT function in Excel can be used to forecast future values in a data set. The function takes three arguments: the data set, the number of periods for the forecast, and the optional constant. The function returns an array of values that can be used to predict future values in the data set.

When should you not use FORECAST.ETS.STAT in Excel?

There are a few occasions when you should not use the FORECAST.ETS.STAT function in Excel. One such situation is when you have a time series that is not stationary. In this case, the function will not produce accurate results. Additionally, you should not use the function if you have a nonlinear trend in your data, as the function is not designed to account for nonlinear trends. Lastly, you should not use the function if your data is not evenly spaced.

What are some similar formulae to FORECAST.ETS.STAT in Excel?

The FORECAST.ETS.STAT function in Excel is used to calculate a forecast for a future value based on a set of existing data. There are a number of similar functions in Excel that can be used to perform similar calculations. The TREND function can be used to calculate a trend line for a set of data, and the LINEST function can be used to calculate the coefficients of a linear regression line. The SLOPE and INTERCEPT functions can be used to calculate the slope and intercept of a linear regression line, and the RSQ function can be used to calculate the coefficient of determination for a linear regression line.

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