Trending is one of the key principles that underlay best practice forecasting. Time series trending applies when you have a single data set or one row of data. Briefly, this approach involves plotting historical data against time, and then trending this into the future using an excel generated formula.
We have pulled together an example of how to carry out time series trending within Excel. This can be viewed within the video, or through downloading the related Excel document.
This example aims to walks you through how to trend out historical data within excel, step by step. It will take you through from inputting your historical data, to selecting an appropriate trending curve, and finally to calculating trended data. The example also covers how to convert trend line equations into those recognised by Excel.
If you would like to find out any further information on the principles of trending, the time series trending approach, or other trending methodologies, please visit the training section of theHub or contact us.