forecast errors measures

[Former Member]

hi all,

what are the different forecast error measures and which is most preferred?

[former_member583013]

Hi,

Univariate forecasting allows you to measure the forecast error in six ways:

Mean absolute deviation (MAD)

Error total (ET)

Mean absolute percentage error (MAPE)

Mean square error (MSE)

Square root of the mean squared error (RMSE)

Mean percentage error (MPE)

please refer to the followng link for more details about each error:

http://help.sap.com/saphelp_scm70/helpdata/en/19/98ad1765354d7ba54b1eb164c377e0/frameset.htm

Regards,

Sunitha