Calculating Forecast Error
The forecast error needs to be calculated using actual sales as a base. There are several forms of forecast error calculation methods used, namely mean percentage error, root mean squared error, tracking signal and forecast bias.
Read more about this topic: Forecast Error
Famous quotes containing the words calculating, forecast and/or error:
“Sin in this country has been always said to be rather calculating than impulsive.”
—Frank Moore Colby (1865–1925)
“I cannot forecast to you the action of Russia. It is a riddle wrapped in a mystery inside an enigma.”
—Winston Churchill (1874–1965)
“It is a general popular error to suppose the loudest complainers for the public to be the most anxious for its welfare.”
—Edmund Burke (1729–1797)
Related Phrases
Related Words