PMT vs AVERAGEIFS vs FORECAST
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PMT vs AVERAGEIFS vs FORECAST

Table of content

Basic Classification Comparison

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.
    AVERAGEIFS
    • Multiple Criteria Based Average
      AVERAGEIFS is known for Multiple Criteria Based Average.
    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
    AVERAGEIFS
    • Can Handle Up To 127 Criteria Pairs
    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
    AVERAGEIFS
    • Makes Simple Averages Feel Inadequate
    FORECAST
    • The crystal ball of Excel functions

Technical Details Comparison

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

  • Version Compatibility 💻
    Indicates which Excel versions and platforms the function is compatible with < including Office 365< Excel 2019< 2016< etc.
    PMT
    • Excel 2019
      PMT is compatible with Excel 2019 Excel functions that work specifically in Excel 2019 version
    • Excel 2016
      PMT is compatible with Excel 2016 Excel functions that work specifically in Excel 2016 version
    • Excel 2013
      PMT is compatible with Excel 2013 Excel functions that work specifically in Excel 2013 version
    AVERAGEIFS
    • Excel 2007
      AVERAGEIFS is compatible with Excel 2007 Excel functions that work specifically in Excel 2007 version
    FORECAST
    • Excel 2019
      FORECAST is compatible with Excel 2019 Excel functions that work specifically in Excel 2019 version
    • Excel 2016
      FORECAST is compatible with Excel 2016 Excel functions that work specifically in Excel 2016 version
    • Excel 2013
      FORECAST is compatible with 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
    For all*
    • Windows
      Excel functions optimized for Windows operating system
    • MacOS
      Excel functions optimized for MacOS users
    • Web Excel
      Excel functions available in web-based versions
    AVERAGEIFS
    • Excel Online
      AVERAGEIFS runs on Excel Online Excel functions available in the online version of Excel

  • Required Arguments Count 🔢
    Number of mandatory arguments needed for the function to work properly
    PMT
    AVERAGEIFS
    FORECAST

  • Required Arguments Type 📊
    The data types accepted as valid input arguments for the function
    For all*
    • 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
    AVERAGEIFS
    • Array
      AVERAGEIFS accepts Array as input types Excel functions that specifically work with array inputs for calculations
    • Range
      AVERAGEIFS accepts Range as input types Excel functions that operate on cell ranges for calculations
    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
    AVERAGEIFS
    • Flexible Criteria Selection
    • Multiple Condition Support
    • Easy To Understand
      Functions with clear and intuitive syntax that are simple to learn
    • Multiple Conditions Support
      Excel functions handling multiple conditions enable complex logical operations and flexible data filtering
    • Flexible Range Selection
      Functions that enable selecting dynamic ranges and cell references flexibly
    • Easy To Use With Multiple Criteria
      Functions that handle multiple conditions efficiently
    • Versatile For Complex Analysis
    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
    AVERAGEIFS
    FORECAST
    • Assumes Linear Relationship
    • Complex Setup
    • Sensitive To Outliers

Ratings Comparison

Alternatives to PMT
SUMIFS
Known for Multiple Condition Sum
📈 is more versatile than PMT
ROUND
Known for Round Numbers
📊 is easier to use than PMT
📈 is more versatile than PMT
⭐ is rated higher than PMT
MIN
Known for Finding Lowest Value
📊 is easier to use than PMT
⭐ is rated higher than PMT
AVERAGE
Known for Basic Statistical Calculation
📊 is easier to use than PMT
⭐ is rated higher than PMT
MOD
Known for Division Remainder Calculations
📊 is easier to use than PMT
FACT
Known for Calculate Factorials
📊 is easier to use than PMT
POWER
Known for Exponential Calculations
📊 is easier to use than PMT
⭐ is rated higher than PMT
PRODUCT
Known for Multiplying Numbers Together
📊 is easier to use than PMT
RIGHT
Known for Extract Rightmost Characters
📊 is easier to use than PMT
⭐ is rated higher than PMT
EOMONTH
Known for End Of Month Calculations
📊 is easier to use than PMT
🛠 is more reliable than PMT
⭐ is rated higher than PMT