Forum Discussion
Projecting Data Figures - Years in Advance
Jamos7 A forecast based on only two data points from the past will be very, very vague.
One possibility would be to apply the same change percentage to the forecast value, i.e. if the change in the last 5 year period was -12%, apply that percentage to the latest value.
Thanks for the reply IngeborgHawighorst
Realised I've missed out some of the data!
Somehow I need to create a linear model that predicts the number of people employed (FTE Number) for future years based off business activity (Bus number - in the 2018 and 2017 columns).
If that makes any sense as I'm struggling to wrap my head around it with no 2017 data as to how many staff were employed per industry for that year.Jamos7 As I said above, any forecast based on just two past data points will be very difficult, but if you don't even have two data points, then a crystal ball might be more help than Excel.
Sorry to be so blunt, but Excel is great at crunching numbers. It can do forecasts and predictions, too, but it really needs data for that.
