The newest Foresight guidebook, Forecast Accuracy Measurement: Pitfalls to Avoid and Practices to Adopt is designed to enhance your use of appropriate practices in forecast accuracy measurement, and to suggest alternatives that may provide new and better insights. Written by top forecasting practitioners, consultants and academics, this essential guide will verify your use of valid practices, will expose invalid measurement procedures, and will bring you up to date on best-practice techniques.
The introduction by Editor Len Tashman offers a comprehensive tutorial on forecast accuracy measurement as well as an overview of the articles in this guidebook, of which these are a sample:
Should You Report Forecast Error or Forecast Accuracy
Advantages of the MAD/MEAN ratio over the MAPE
Measuring Forecast Accuracy: Omissions in Forecasting Engines and Demand-Planning Software
Measuring the Quality of Intermittent-Demand Forecasts: It’s Worse Than We’ve Thought
The Quest for a Better Forecast Error Metric: Measuring More than the Average Error
How to Track Forecast Accuracy to Guide Forecast Process Improvement
How Good is a “Good” Forecast? Forecast Errors and their Avoidability
Can We Obtain Valid Benchmarks from Published Surveys of Forecast Accuracy?
Forecastability: A New Method for Benchmarking and Driving Improvement
Assessing Uncertainty in New Product Forecasts
How to Separate Risk from Uncertainty in Strategic Forecasting
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Published: April 2018
Pages: 177, pdf format Price: $95, $47.50 for IIF members