How to Do Trend Analysis in Excel
Enter the data into your Excel spreadsheet., Select the data you want to include in the chart., Access the Chart feature., Remove the chart legend, if desired.
Step-by-Step Guide
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Step 1: Enter the data into your Excel spreadsheet.
You should have enough data to cover a reasonable period of time, such as two years or more.
You should also have consistent intervals, such as weekly, monthly, or yearly entries.
If you're missing data for a given period of time, you can interpolate a reasonable estimate based on the figures you do have.
For example, if you're missing April's sales figure, and you have a sales figure of $200 for February, $250 for March, $350 for May, and $400 for June, you can reasonably conclude that April's sales were $300 and enter that figure.
Likewise, if you have the figures for the previous year and notice that this year's sales run about 10 percent higher than last year's, and you have last April's figures but not this April's, you can enter a figure for this April 10 percent higher than the figure you have for last year. -
Step 2: Select the data you want to include in the chart.
You can select the data either by using your mouse or by selecting a single cell and pressing the "Ctrl" and "A" keys simultaneously to select all adjacent cells with data in them. , While Excel offers a number of chart options, you'll want to set up a line chart for your trendline.
In Excel 2003, select "Chart" from the Insert menu.
Click the Standard Types tab, then choose "Line" under "Chart type," and then click "Finish." In Excel 2007 and 2010, click the Insert tab, then click Line dropdown button in the Charts section of the Insert menu ribbon.
Select the line chart you want from the options displayed. , The chart legend explains which colors represent which dataset in the chart.
Removing the legend offers more space for the chart itself.
To remove the legend in Excel 2003, click the Legend button on the Chart toolbar.
To remove the legend in Excel 2007 or 2010, click the Legend dropdown button in the Labels group on the Layout menu ribbon and select "None." -
Step 3: Access the Chart feature.
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Step 4: Remove the chart legend
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Step 5: if desired.
Detailed Guide
You should have enough data to cover a reasonable period of time, such as two years or more.
You should also have consistent intervals, such as weekly, monthly, or yearly entries.
If you're missing data for a given period of time, you can interpolate a reasonable estimate based on the figures you do have.
For example, if you're missing April's sales figure, and you have a sales figure of $200 for February, $250 for March, $350 for May, and $400 for June, you can reasonably conclude that April's sales were $300 and enter that figure.
Likewise, if you have the figures for the previous year and notice that this year's sales run about 10 percent higher than last year's, and you have last April's figures but not this April's, you can enter a figure for this April 10 percent higher than the figure you have for last year.
You can select the data either by using your mouse or by selecting a single cell and pressing the "Ctrl" and "A" keys simultaneously to select all adjacent cells with data in them. , While Excel offers a number of chart options, you'll want to set up a line chart for your trendline.
In Excel 2003, select "Chart" from the Insert menu.
Click the Standard Types tab, then choose "Line" under "Chart type," and then click "Finish." In Excel 2007 and 2010, click the Insert tab, then click Line dropdown button in the Charts section of the Insert menu ribbon.
Select the line chart you want from the options displayed. , The chart legend explains which colors represent which dataset in the chart.
Removing the legend offers more space for the chart itself.
To remove the legend in Excel 2003, click the Legend button on the Chart toolbar.
To remove the legend in Excel 2007 or 2010, click the Legend dropdown button in the Labels group on the Layout menu ribbon and select "None."
About the Author
Ann Bennett
Ann Bennett is an experienced writer with over 4 years of expertise in lifestyle and practical guides. Passionate about sharing practical knowledge, Ann creates easy-to-follow guides that help readers achieve their goals.
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