how to measure the forecast accuracy?

[former_member224276]

dear friends,

1. how you measure the forecast accuracy?

actual sales vs statistical forecast will need to measure the forecast and iam looking for more points.if iam wrong pl correct me.

how you measure the forecast errors?

based on your sales history constant,trend, seasonal pattern system will calculate the forecast errors. iam looking for more

points if i am wrong pl correct me.

regards

sivaram.

[Former Member · Accepted solution]

Dear Siva,

Have a look at the below links.

Regards,

Siva.

[former_member224276 · Accepted solution]

Hello friends,

Thanqu very much to all.Iam getting solution.

[Former Member]

Hi,

There are 6 parameters based on which you can measure your forecast.

MAD - Mean absolute Deviation

MAPE - Mean Average Percenage error

MSE - Mean Square Error

RMSE - Root of Mean Square Error

ET - Error Total

MPE - Mean Percentage Error.

All of this are differences between the Actual forecast and the expected forecast. They are calculated on the basis of Ex-post forecast method.

Hope this helps.

Thanks

Mani