To optimize your forecast, whether moving average, exponential smoothing or other form, you need to calculate and evaluate MAD, MSE, RMSE, and MAPE. With Excel 2016, this is easy to do.

[embedyt] http://www.youtube.com/watch?v=H_N5_vxs8Tg[/embedyt]

Open the Excel workbook here MAP MSE MAPE

Thanks for the help, professor!

Amazing!

Thank you

Thank you for the positive feedback!

how did you get the forecast

This is just an example of a typical forecast. You can develop your forecast using many different methods: simple regression or one of the many time-series methods. These error metrics can be applied to a variety of numerical forecasts.