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Forecasting growth of product

Posted on 2013-01-02

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Last Modified: 2013-03-23

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?

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Question by:redman20111

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2 Comments

LVL 16

Accepted Solution

by:terencino

terencino earned 2000 total points

ID: 387362382013-01-02

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

LVL 13

Expert Comment

by:Ryan

ID: 387370892013-01-02

You can create a line/scatter graph in excel with weekly, or monthly totals. Then create a trend line(choose linear or exponential most likely), and use the forecast on that. 6 month Data points won't give you much, but 24weeks should.

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