Hello and welcome to our new video
In this video we are going to learn about forecast function
You must have seen in news that
Forecast is done by weather department
Like today weather is going to be like this
Tomorrow weather is going to be like this or after 10 days
weather is going to be like this
Apart from this artificial intelligence has some tools like
a big shop or a big company like samsung like samsung makes
so many products so what are the tools of artificial
intelligence they tell us after reading the previous data
they tell us in upcoming years how much samsung is going to
perform or how much revenue it is going to generate so we
will also try to understand this thing so let me open excel
here I have two companies one is Parle-G and second is TMD
Electronics so if you see
from 2014 till 2023 some sales have been given in 2014 it
sold for 1 lakh after that it sold for 1.10 lakh after that
it sold for 1.50 lakh in 2017 it sold for 1.76 lakh in 2017
it sold for 1.76 lakh what we want to know till 2023 we
have data
I want to know
Parle-G in 2025 how much revenue it is going to generate or
how much sales it is going to generate so how will we find
that so here we have a function forecast.ets we will use
that forecast and forecast.ets both work the same but
before 2013 your forecast function used to work but after
2013 like I am using 2019 or 2016 so there you will get
forecast.ets now what I have to do
I have to put forecast.ets so I will put sign of equals to
and I will write forecast see it came now see what is
written return the forecasted value for a specific future
target what is the meaning of specific future target
I want to know in 2025 what will be the sale or tell me in
2030 what will be the sale so we are talking about a
specific target so I double click it or you can press tab
now it is asking targeted date so what I do in targeted date
I select this cell whatever date I change here according to
that I will get the result like I selected this cell after
that it is asking me to tell values so what values I have
to tell the value of sale so from here to here
I select the whole data after that I have to put comma and
then it is asking me the timeline what is the meaning of
timeline tell me the specific year or tell me the date so
from here to here
I select the whole data after that I have to close the
bracket and enter now it will show wrong answer because our
cell is not selected so we have to select the cell
so we selected this cell
I have to put this formula again it is wrong so first of
all we have to select the target date so I selected this
cell then I put comma then I selected values then I put
comma again and here I selected the timeline after
selecting the timeline
I closed the bracket now it will show correct value so I
entered it showed hash number it is wrong because we have
not put any year like I put 2025 so I entered so it is
2,88,834 you can change the year like I want to know what
will happen in 2030 sorry what will happen in 2030 so for
2030
I entered so I entered same here I insert same date date
date date date date date date So I have to find out
according to this data that the remaining 15 days are left,
what we will do by taking out the average of it, what will
the forecast function do, it will try to take out the
average and try to estimate that the sale will increase or
decrease, so let's try the same thing, so what I do here, I
put it here equals to forecast dot ETS, it came, double
click it, from here it asks me the target
so I say that I will put the target date here,
after that what I have to select, I have to select the
value, so the values will be the same as the sale values,
so I selected them, after that it is asking me to tell the
timeline, for the timeline we saw here that for the
timeline we selected from 2014 to 2023, in the same way we
will select things here also, I selected here and after
that I will close the bracket, and I will do enter from
here, what is coming now, it will come now, we know the
hash number because we have not put any data in
sale, so what you have to do is simple, like you have to
find out the date of 20th, like I have to find out the date
of 20-01-2023, so what is this, it came upside down,
20-01-2023, 11-12-2008, let me see what happened,