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Make Forecasts - How extensive is it?
I figured that I would check with the various Excel gurus to see what I have
to deal with related to this topic. Here goes: 1) My boss has asked me to help him forecast different expenses for next year based on the last four years. 2) I'm very familar with Excel's various versions (2000-2007) and can do most things. We use 2003 and 2007. However, I have never deal with Excel's forecasting feature and capabilities. I just spent 20 minutes reading about it and another hour trying out an example in one of my Excel books. It seems VERY complicated. 3) Here are my questions: a) How much is there to forecasting? How much time would one need to spend to get a grasp of the basics before trying to explain this to someone? b) Does forecasting really require an extensive understanding of finances and terminology? 4) I don't know if I'm going to end up "over my head" as I start to address this request. Any suggestions/advice would be greatly appreciated ! Thanks! Juggletwo |
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