Forecast using Excel

[wallywalter]

We have a cinema hall and entertainment park. We have gathered data for four months of past period of which two months pertain to slack season and two months to peak season. The data is about guest visit and occupancy. Using this four months data we want to forecast occupancy for entire 12 months of current year . What would be most appropriate tool in excel to do so ?

E.g.

Peak period

January - 50,000 guest visit
February - 55,000 guest visit

Slack period

July - 20,000 guest
August - 22,000 guest visit

[dilipandey]

Hi Wallywalter,

Forecasting for entire year with just four month's data would be not justified and may be inaccurate.

Suggest you to plot the data month wise and consider other factors as well like weekends, festive seasons, summer / winter vacations etc and when you plot this data, attach the same as a sample file for our forum members to give a quick try. Thanks.

Regards,
DILIPandey

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[wallywalter]

Here is the sample file. I understand with a limited data the results might be skewed and not an good indicator, but still some leads could be of help.

[dilipandey]

Hi Wallywalter,

Though forecasting involves many aspects / factors, but I have done a normal forecasting (plus buffer of 10% - to be on a safer side) in the attached spreadsheet. this can give you some idea. Thanks.


Regards,
DILIPandey

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[wallywalter]

Thanks.

Had the data been adequate enough , what function would be used and how

[darknation144]

There are a few linear() trend() forecast()