FORECAST.ETS Function Explained
The FORECAST.ETS Function in Microsoft Excel is used to calculate a future value based on existing values using the Exponential Triple Smoothing (ETS) algorithm. It takes three arguments: the existing values (known_y’s), the corresponding values for the existing values (known_x’s), and the value for which you want to predict the future value (new_x). The function returns a predicted value for the new_x value.
FORECAST.ETS Function Syntax
FORECAST.ETS(known_y's, [known_x's], [new_x's], [alpha], [beta], [gamma], [seasonality], [trend], [seasonal_period])
- known_y’s: The set of dependent values that are already known.
- known_x’s: (Optional) The set of independent values that are already known.
- new_x’s: (Optional) The set of independent values for which you want to predict the corresponding dependent values.
- alpha: (Optional) The smoothing factor for the level component of the forecast.
- beta: (Optional) The smoothing factor for the trend component of the forecast.
- gamma: (Optional) The smoothing factor for the seasonal component of the forecast.
- seasonality: (Optional) The length of the seasonal pattern.
- trend: (Optional) The type of trend line used in the forecast.
- seasonal_period: (Optional) The number of data points in a seasonal cycle.