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Prepare the Data: Open your Excel workbook with the imported file provided Create a new sheet or table to summarize sales data by month. Use
Prepare the Data: Open your Excel workbook with the imported file provided Create a new sheet or table to summarize sales data by month. Use the SUMIFS function to sum the 'price' for each month. Ensure your sales data is sorted in chronological order. Create a Time Series Chart: Highlight your summarized monthly sales data and insert a line chart to visualize the sales trend over time. This step helps in understanding the data pattern before forecasting. Use Excel's Forecast Sheet Feature: Select your monthly sales data. Go to the "Data" tab on the Ribbon, and click "Forecast Sheet" to open the forecast dialog. Choose a line chart or a column chart for your forecast. Set your forecast end date. For practice, forecast the next 12 months of sales. Excel will automatically generate a forecast based on your data, using the Exponential Smoothing (ETS) algorithm
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