Monthly Forecasting Excel Spreadsheet Template

Free Download of the Excel Monthly Forecasting Template
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Now free to download is our new Excel call centre forecasting template, which will assist your call centre’s capacity planning, demand and call volume forecasting processes.

Download Your Free Excel Forecasting Template

Download excel file icon
Free Excel Monthly Forecasting Spreadsheet Template
Version: 4
Date Added: 11 April 2024
File Type: xlsm
File Size: 125 KB
Category: Tools
Download Link: Download

Alternatively click here to try our online forecasting tool

This tool needs you to have 24 previous months of data available. You add these to the spreadsheet and it will calculate the next 12 months’ predicted values for you.  If  you do not have multiple years worth of data, take a look at our article: How to Forecast with Minimal Data.

Free Excel Forecasting Template Designed to Work with Call Volumes

You can then use these reports for capacity planning purposes. The forecasting template has been designed to work with call volumes, but could easily be adapted for other types of monthly forecast.

Our forecaster works using the Holt-Winters, or triple exponential smoothing, method, which assumes that there are three components to any forecast:

  • A seasonal adjustment – based on previous data for the same months, e.g. you might expect customer calls to go down in December or rise in July.
  • A trend – whether your values are generally growing or shrinking over time.
  • A level – a baseline for your values once the other components have been removed.

Click here to download the Forecasting template

To get the calculator to work you must enable macros in Excel and have both Analysis Toolpak and Solver installed in Excel as Add-ins. You will find more instructions on checking whether they are installed and how to add them here.

If you prefer to print out the instructions you can also download the instructions here.

This explains a little about how the calculations are performed and has the instructions for installing the Add-ins and using the tool.

Video Guide for Using the Free Excel Forecasting Template

We have also created a how-to guide on YouTube

You are free to use the forecaster  in all of your projects, provided that you do not resell or distribute the tool on the web.

If you spot any bugs in the spreadsheet or if you have any feedback please send us an email or leave details in the comments below.

Using the Monthly Excel Forecasting Template

Open the spreadsheet and enable macros (or Enable Content) if you are prompted to do so.

If there are any problems check you have both Analysis Toolpak and Solver installed in Excel as Add-ins. You will find more instructions on checking whether they are installed and how to add them here.

You will need to have at least 24 months of data in order to produce the next 12 predicted months for call volumes. You can probably get this data from the call volume reports on the Call centre system.

When you open up the tool you will see that it has some dummy data in it, and you should be able to see a chart, with the data that feeds it to the left-hand side, starting with the oldest month in cell A3 and the oldest value in cell B3.

You can add as many values as you wish in columns A and B. Please don’t leave any gaps in the data.

Forecaster4

You can replace the values by simply overwriting them or copying and pasting data from another spreadsheet, as long as it is the same format of date in the first column (dd/mm/yyyy) and value in the second column.

It’s best to Copy and Paste Special (Paste as Values) to be absolutely sure that you don’t inadvertently copy over any formulas from elsewhere.

If you select the current data and press the delete key, you may get the following message

Forecaster2

This is fine, click OK and the chart will refresh and show just one point in the centre. When you enter your new data, the chart will redraw with the data you’ve entered and everything should work.

Click the blue “Get Forecast” button and Excel will start to use Solver to find the most likely next points for your data. You will need to be patient at this point. It can take around 20-30s for Solver to settle on a most probable solution and you will see numbers changing at the bottom left of your screen as different values are tried out.

After this time, you will be taken to the Forecast and you will see a new chart with the next 12 predicted values showing in red. The next 12 predicted months and forecast values are shown to the left of the chart.

Forecaster5

Your original data also exists in this sheet but the rows have been hidden, leaving only your forecast visible. If you’d like to forecast call volumes even further in to the future then you could take these values and transfer them back in to the data worksheet at the end of your current data, then run the forecast again to get another 12 months. In this way you could try to forecast a few years.

Have a read of our FAQs- Call Forecasting with Spreadsheets article, for the answers to 17 common questions with forecasting with spreadsheets.

Using this Forecast for Staffing Forecasts

The forecasting spreadsheet just works out the monthly predicted call volumes.  If you want to use it workforce management, for scheduling your call centre, you will need to break down the outputs into a daily and then hourly forecast.  You can then plug the numbers into an Erlang calculator to get the numbers of Agents or FTE required.

Terms and Conditions

Use of the Forecasting Spreadsheet is subject to our standard terms and conditions.

Download excel file icon
Free Excel Monthly Forecasting Spreadsheet Template
Version: 4
Date Added: 11 April 2024
File Type: xlsm
File Size: 125 KB
Category: Tools
Download Link: Download

Alternatively click here to try our online forecasting tool

Author: Jonty Pearce
Reviewed by: Robyn Coppell

Published On: 18th Mar 2015 - Last modified: 13th Sep 2024
Read more about - Essential Call Centre Tools, , , , , ,

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38 Comments
  • Seems to come up with a Compile Error, Tried leaving it with the dummy data and also tried keying my own data

    Adam 19 Mar at 13:27
  • Hi Adam

    Please could you email me a screenshot of the error and a copy of the spreadsheet. The details are on the contact us page.

    Thanks

    Jonty

    jontypearce 19 Mar at 15:44
  • I have sent the details

    Many Thanks

    Adam

    Adam 20 Mar at 08:52
  • How come it outputs a different forecast everytime i run it with the same historical data?.

    Eduardo Rivera 6 Apr at 20:46
  • Can the spreadsheet be configured for weekly forecasts? If so, how would the spreadsheet be edited?

    James Wilkshere 15 Aug at 08:19
  • Hi,I can not did the forecast,the respon was compact file error cant find project or library

    Steven 27 Aug at 06:28
  • unable to get forecast due to error on macro, dont know how to fix it

    Anusorn 29 Sep at 10:31
  • Try re-downloading the spreadsheet. If you still have problems send us in the spreadsheet and we will see if we can fix it.

    Jonty Pearce 2 Oct at 13:07
  • I am getting the same error (Compile error: Can’t find project or library) I tried running it with the sample data, it didn’t work. I also tried my data and it didn’t work either. Maybe the download file needs to be replaced.

    Max 15 Oct at 20:31
  • It appears that this version of the template requires excel 2010 as in the 2007 version evolutionary options are not available.

    Mike 6 Nov at 14:20
  • When I click the calculate button, I get an pop up window that states
    Show Trial Solution – The maximum number of subproblems was reached; Continue anyway?

    My choices are continue, stop or save scenario? What is causing this pop up alert?

    Angela 2 Feb at 18:30
  • Hi Angela. This tool uses a feature in Excel called Solver, which will run through many options for the future values until an optimal solution is found that fits well for a number of the original values. Sometimes if the original data is not regular or well defined then it can take longer to reach a solution as there can still be large differences in the new values that Solver has found – and there are constraints on how many gos it has so you’re not sat waiting forever! When you get that message you can either choose to continue and solver will carry on trying to find a good best fit, or you can show the trial solution and see if you’re fairly happy with what it has come up with. You could then run it again and see how different the forecast is, which will give you an idea of how much it’s struggling to make sense of your original numbers.

    Joanne 3 Feb at 15:13
  • Hi. Good day, it seems there is a Macro error. Is there a way we can make it work?

    Jeff 31 May at 15:44
  • received a compile error but enabling the solver in excel add ins solves the issue

    Adam 2 Jun at 08:10
  • anyone getting the solver issue when running? I have solver installed but errors on MAXTIMENOIMP, Solutions anyone?

    Mike 21 Jul at 09:33
  • encountered error “compile error”
    on the VB codes, “solveroptions…” is highlighted
    thats under Sub Runsolver ()

    william 12 Aug at 21:22
  • Hello there,
    I was VERY interested in using your forecasting template … alas, we have Excel 2010 installed, and the Solver seems to be incompatible with your macro.
    For example, the MaxTimeNoImp as well as MaxSubproblems are not recognized and give a compile error with “Named agument not found” explanation.

    Would you have an older version of your Forecast Template cmpatible with Excel 2007 Solver?

    Thanks in advance,

    Michel 5 Sep at 14:57
  • sorry for the typo in my previous comment.
    We have Excel 2007 installed not 2010 …

    Michel 5 Sep at 14:58
  • Re Mike’s comment (Jul 21st), seems you have the same issue than I have encountered.

    Older version of Solver …

    Michel 5 Sep at 15:01
  • Hi, The template is really good , working fine, just have a question, what is the reason for keep initial value for level, trend and seasonal as 40%,

    Shabbir 20 Sep at 15:19
  • Can this week on weekly values

    Andrew Walker 24 Oct at 16:42
  • Good one , but need to know how to perform this to get the required FTE
    “If you want to use it for scheduling you will need to break down the outputs into a daily and then hourly forecast. You can then plug the numbers into an Erlang calculator to get the numbers of Agents or FTE required”.

    Allan 23 Jan at 18:46
  • Hi,I cannot did the forecast, the respond was compact file error cant find project or library

    allan 24 Jan at 06:03
  • Hello,

    Does anyone have the version that works with Excel 2010 or higher ?

    Thank you

    Danny 29 Jan at 21:08
  • It should work with the latest version of Excel. You need to have the add-in packs in Excel enabled.

    Jonty Pearce 2 Feb at 14:21
  • Thanks Jonty,

    another question :

    How come it outputs a different forecast every time i run it with the same historical data ?I ran it 5 times and I got ( although very close) different data.

    Danny 13 Feb at 21:32
  • This is because it is a simulator. It generates a random arrival of calls, emails and web chats – just as happens in real life. Sometimes the calls will be bunched together and sometimes they will be spaced out. If you run it a few times you will get a better idea of the average and peak number of staff needed.

    Jonty Pearce 14 Feb at 15:08
  • Hi,

    I am interested in using this, but want to make it a weekly version. Is there a weekly version available? If, not what needs to be changed to make it so?

    Also, In the Calcs tab I did not see a note in the video if any of this data needs to change? Does it? If so what needs to be changed? Where does the Factors data come from?

    Nick 22 Feb at 21:30
  • Hi Nick

    It’s not very easy to convert it to a weekly chart as all of the formulas need to be reset. We are working on an online version that should be able to take weekly inputs.

    Jonty Pearce 23 Feb at 11:16
  • Thanks Jonty.

    Do you have an answer to my question for the Cals tab?

    Nick 9 Mar at 16:22
  • How does one break down the outputs into daily and hourly intervals?

    Mark 15 Apr at 12:25
  • Hi

    I am getting the same compile error. What is the work around for it or is there any other similar excel sheets available.

    Thanks

    Andy 21 Apr at 01:58
  • How to handle compile error. I am using Excel 2010

    Simone 9 May at 11:56
  • Hi,
    Thanks for the contribution, I Tried running it with the dummy data and I’m having an error: compile error Can’t find project or library. I’m using excel 365, do you know what would be my best option to have it running properly? thanks in advance

    Eduardo 18 May at 20:43
  • Hi I am receiving the below error when trying to run the forcaster. Complie error cant find project or libary. i have macros enabled and solver ticked in the add ons and advice please

    ryan 19 May at 12:19
  • Is it necessary to change the data on the Calcs? I noticed that if I change the information on the data tab, that it doesn’t change it on the Calcs tab.

    Phil 5 Jul at 23:29
  • So is there any response about the macro error?

    David 20 Sep at 23:14
  • Hi just had the compile error that people have been mentioning. I resolved it on excel 2016 by going into options and enabling the “analysis tool pack” and “solver” add ins and the “analysis tool pack – vba” and “solver” add ins.

    Works fine for me now. Hope that helps people with the macro/ compile error.

    James 19 Oct at 16:46