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Forecasting growth of product
Posted on 2013-01-02
Hello
We have a software application that is used within our organisation named TRACKER. We recently rolled this out globally and the uptake has been good.
I have numbers on the amount of users "purchasing" this software internally over the last 6 months.
What I'd like to do is somehow forecast, based on the current growth, what number of users will be using this software in another 6 months, 12 months etc.
I'm not sure how I can do this, can anyone advise? I was thinking at the most basic level, Excel 2007 must have some feature?
We have a software application that is used within our organisation named TRACKER. We recently rolled this out globally and the uptake has been good.
I have numbers on the amount of users "purchasing" this software internally over the last 6 months.
What I'd like to do is somehow forecast, based on the current growth, what number of users will be using this software in another 6 months, 12 months etc.
I'm not sure how I can do this, can anyone advise? I was thinking at the most basic level, Excel 2007 must have some feature?
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2 Comments
Hi yes try the FORECAST equation first in Excel, it is a linear approach. If you want visuals then a simple scatter plot by month with a trend line (linear, binomial, polynomial etc) will work fine. If you like to send some sample data through I can send you back up a suitable chart.
Hope that helps
...Terry
Hope that helps
...Terry
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