How To Measure BIAS In Forecast

I spent some time discussing MAPE and WMAPE in prior posts. In this post, I will discuss Forecast BIAS. Forecast BIAS can be loosely described as a tendency to either Forecast BIAS is described as a tendency to either over-forecast (meaning, more often than not, the forecast is more than the actual), or under-forecast (meaning, more often

By |2019-04-13T23:10:00-04:00July 21st, 2015|Demand Planning, Forecasting|

Is Your Forecast Biased Much?

Recently, someone forwarded a Live Science web link to me. The web page had information on how human brains are able to read words and make sense of them even when the letters are jumbled up. The website suggested that it was possible for a human brain to make sense of the words as long

By |2024-02-21T14:22:22-05:00April 1st, 2015|Demand Planning, Forecasting|

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