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Is it possible to forecast demand of beverage sales including factors like schemes, temperature, sales of previous period and year etc as independent variables in excel?

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The Answer is YES, you can do. All you need to do is arrange the data in proper manner and know how to feed in the data as required. You can use "Data Analysis" option in Excel. Also, there is an add-in called "KADD Stat" which is very useful to do this using Multiple regression analysis. You can download the add-in here KADDSTAT. Hope this helps !

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