The early tutorials have shown you how to make forecasts using the
FORGE_FORECAST function. You can also make forecasts by using the sidebar; this tutorial will show you how to do this and some of the extra features you can use when making a forecast this way.
You can watch this video for a quick demo of how things work and bit of explanation. Or read on below…
The first thing you will have to do is open the sidebar if it isn’t open already.
After a short loading period you should see it appear on the right of your screen:
The things the sidebar asks you to fill in should seem familiar if you have used the
FORGE_FORECAST function before.
FORGE_FORECASTfunction will always place the output below and to the right of the cell it is in; with the sidebar you can put it anywhere.
You can either type the ranges in or select the range with the mouse and then click “Use current selection”.
When you are ready click “Make Forecast” and Forecast Forge will build you’re forecast and put the results in the sheet wherever you specified.
If your forecast period is short enough relative to the amount of training data you will also see the results of some automated backtesting:
You can learn more about interpreting this output here.
FORGE_FORECASTor the sidebar?
This is mostly a matter of personal preference. There are two important considerations: