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Compact mode

PMT vs MODE vs FORECAST

Table of content

Basic Classification Comparison
Usage Context Comparison
Basic Information Comparison
History Comparison
Facts Comparison

Usage Information Comparison
Technical Details Comparison
Evaluation Comparison
Ratings Comparison

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 Click to see all.

MODE

Statistical

MODE belongs to the Statistical category. Excel functions for statistical analysis and calculations Click to see all.

FORECAST

Statistical

FORECAST belongs to the Statistical category. Excel functions for statistical analysis and calculations Click to see all.
Operation Type 🔧

Fundamental type of operation or action that the Excel function performs on its inputs

For all*

Calculation

Excel functions for performing various calculations

Usage Context 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.

MODE

Finding Most Frequent Value

MODE is known for Finding Most Frequent Value.

FORECAST

Linear Trend Prediction

FORECAST is known for Linear Trend Prediction.

History Comparison

Creation Date 📅

Original release date of the Excel function

PMT

Excel 3.0

PMT was created in Excel 3.0. Functions that originated in Excel 3.0 version Click to see all.

MODE

Excel 2.0

MODE was created in Excel 2.0. Functions introduced in the Excel 2.0 version release Click to see all.

FORECAST

Excel 97

FORECAST was created in Excel 97. Functions first available in Excel 97 version Click to see all.
Created By 👤

Organization or team responsible for developing the function

For all*

Microsoft Excel Team

Functions officially created by the Microsoft Excel development team

Facts Comparison

Interesting Fact 💡

Unique or lesser-known information about the Excel function

PMT

Most used function in banking industry

MODE

One of the original statistical functions

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

MODE

Finds the popularity contest winner in your data

FORECAST

The crystal ball of Excel functions

Usage Information Comparison

Formula Complexity Level 📖

Indicates the difficulty level and complexity of using the Excel function effectively

PMT

Intermediate

PMT has a Intermediate complexity level. Excel functions with moderate complexity for various tasks Click to see all.

MODE

Intermediate

MODE has a Intermediate complexity level. Excel functions with moderate complexity for various tasks Click to see all.

FORECAST

Advanced

FORECAST has a Advanced complexity level. Complex Excel functions for sophisticated calculations and operations Click to see all.

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

MODE

Array

MODE accepts Array as input data. Excel functions designed to work with arrays and ranges of data Click to see all.
Version Compatibility 💻

Indicates which Excel versions and platforms the function is compatible with < including Office 365< Excel 2019< 2016< etc.

For all*

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

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
Required Arguments Count 🔢

Number of mandatory arguments needed for the function to work properly

PMT

3

PMT needs 3 required arguments Click to see all.

MODE

1

MODE needs 1 required arguments Click to see all.

FORECAST

3

FORECAST needs 3 required arguments Click to see all.
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

MODE

Array

MODE accepts Array as input types Excel functions that specifically work with array inputs for calculations Click to see all.

FORECAST

Array

FORECAST accepts Array as input types Excel functions that specifically work with array inputs for calculations Click to see all.

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 Click to see all.

Reliable

MODE

Easy Statistical Analysis

Quick Results

Reliable

FORECAST

Statistical Accuracy

Excel functions with high statistical accuracy ensure precise mathematical and analytical results Click to see all.

Trend Analysis

Professional

Scientific Prediction

Based On Historical Data

Functions that analyze and process historical time-series data Click to see all.
Cons ❌

Limitations and potential drawbacks of the Excel function

PMT

Negative Number Output

Complex Parameters

MODE

Only Works With Numbers

Limited To Single Mode

FORECAST

Assumes Linear Relationship

Complex Setup

Sensitive To Outliers

Ratings Comparison

Alternatives to PMT

Known for Measuring Data Peakedness

🛠 is more reliable than MODE

Known for Multiplying Numbers Together

📊 is easier to use than MODE

📈 is more versatile than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

Known for Counting Numeric Cells

📊 is easier to use than MODE

📈 is more versatile than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

Known for Finding Lowest Value

📊 is easier to use than MODE

📈 is more versatile than MODE

⚙ performs better than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

Known for Finding Nth Smallest Value

🔢 needs fewer arguments than MODE

📈 is more versatile than MODE

Known for Finding Nth Largest Value

🔢 needs fewer arguments than MODE

📈 is more versatile than MODE

Known for Basic Statistical Calculation

📊 is easier to use than MODE

📈 is more versatile than MODE

⚙ performs better than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

Known for Basic Arithmetic Calculations

📊 is easier to use than MODE

📈 is more versatile than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

Known for Multiple Criteria Counting

🔢 needs fewer arguments than MODE

📈 is more versatile than MODE

⭐ is rated higher than MODE

Known for Count Non-Empty Cells

📊 is easier to use than MODE

📈 is more versatile than MODE

⚙ performs better than MODE

🛠 is more reliable than MODE

⭐ is rated higher than MODE

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