PMT vs FORECAST
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PMT vs FORECAST

Table of content

Basic Classification Comparison

  • Function Category 📊
    Primary classification of the Excel function based on its main purpose and usage domain, helps users quickly identify function types
    PMT
    • Financial
      PMT belongs to the Financial category. Excel functions specifically designed for financial calculations and analysis
    FORECAST
    • Statistical
      FORECAST belongs to the Statistical category. Excel functions for statistical analysis and calculations

  • Operation Type 🔧
    Fundamental type of operation or action that the Excel function performs on its inputs
    Both*
    • Calculation
      Excel functions for performing various calculations

Basic Information Comparison

  • Known For ⭐
    Distinctive characteristic or primary strength of the Excel function
    PMT
    • Calculate Loan Payments
      PMT is known for Calculate Loan Payments.
    FORECAST
    • Linear Trend Prediction
      FORECAST is known for Linear Trend Prediction.

Facts Comparison

  • Interesting Fact 💡
    Unique or lesser-known information about the Excel function
    PMT
    • Most used function in banking industry
    FORECAST
    • Based on least squares regression method

  • Sarcastic Fact 🤣
    Humorous or ironic observation about the Excel function
    PMT
    • The function that reminds you of your debts
    FORECAST
    • The crystal ball of Excel functions

Technical Details Comparison

  • Input Data Type 📝
    Types of data that the Excel function accepts as input parameters
    Both*
    • Number
      Excel functions specifically designed for numerical calculations

  • Version Compatibility 💻
    Indicates which Excel versions and platforms the function is compatible with < including Office 365< Excel 2019< 2016< etc.
    Both*
    • Excel 2019
      Excel functions that work specifically in Excel 2019 version
    • Excel 2016
      Excel functions that work specifically in Excel 2016 version
    • Excel 2013
      Excel functions that work specifically in Excel 2013 version

  • Operating System 💾
    Specifies the operating systems where the function can be used < including Windows< macOS< and web platforms
    Both*
    • Windows
      Excel functions optimized for Windows operating system
    • MacOS
      Excel functions optimized for MacOS users
    • Web Excel
      Excel functions available in web-based versions

  • Required Arguments Count 🔢
    Number of mandatory arguments needed for the function to work properly
    Both*

  • Required Arguments Type 📊
    The data types accepted as valid input arguments for the function
    Both*
    • Number
      Excel functions that perform calculations specifically with numerical inputs
    • Number
      Excel functions that perform calculations specifically with numerical inputs
    • Number
      Excel functions that perform calculations specifically with numerical inputs
    FORECAST
    • Array
      FORECAST accepts Array as input types Excel functions that specifically work with array inputs for calculations

Evaluation Comparison

  • Pros ✅
    Key advantages and strengths of the Excel function
    PMT
    • Accurate Calculations
    • Industry Standard
      Excel functions recognized as industry standards ensure widespread compatibility and reliability
    • Reliable
    FORECAST
    • Statistical Accuracy
      Excel functions with high statistical accuracy ensure precise mathematical and analytical results
    • Trend Analysis
    • Professional
    • Scientific Prediction
    • Based On Historical Data
      Functions that analyze and process historical time-series data

  • Cons ❌
    Limitations and potential drawbacks of the Excel function
    PMT
    • Negative Number Output
    • Complex Parameters
    FORECAST
    • Assumes Linear Relationship
    • Complex Setup
    • Sensitive To Outliers

Ratings Comparison

Alternatives to PMT
SUMIFS
Known for Multiple Condition Sum
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison
KURT
Known for Measuring Data Peakedness
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
Add to comparison
MODE
Known for Finding Most Frequent Value
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison
MATCH
Known for Position Finding
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison
AVERAGEIFS
Known for Multiple Criteria Based Average
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
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AVERAGE
Known for Basic Statistical Calculation
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
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PRODUCT
Known for Multiplying Numbers Together
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
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SUM
Known for Basic Arithmetic Calculations
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison
ROUND
Known for Round Numbers
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison
LARGE
Known for Finding Nth Largest Value
📊 is easier to use than FORECAST
⚙ performs better than FORECAST
🛠 is more reliable than FORECAST
⭐ is rated higher than FORECAST
Add to comparison