To read the full version of this content please select one of the options below:

Forecasting performance measures – what are their practical meaning?

Advances in Business and Management Forecasting

ISBN: 978-0-85724-201-3, eISBN: 978-0-85724-202-0

ISSN: 1477-4070

Publication date: 17 November 2010

Abstract

Producing good forecast is a vital aspect of a business. The accuracy of these forecasts could have a critical impact on the organization. We introduce a new, practical, and meaningful forecast performance measure called percentage forecast error (PFE). The results of comparing and evaluating this new measure to traditional forecasting performance measures under several different simulation scenarios are presented in this chapter.

Citation

Klimberg, R.K., Sillup, G.P., Boyle, K.J. and Tavva, V. (2010), "Forecasting performance measures – what are their practical meaning?", Lawrence, K.D. and Klimberg, R.K. (Ed.) Advances in Business and Management Forecasting (Advances in Business and Management Forecasting, Vol. 7), Emerald Group Publishing Limited, Bingley, pp. 137-147. https://doi.org/10.1108/S1477-4070(2010)0000007012

Publisher

:

Emerald Group Publishing Limited

Copyright © 2010, Emerald Group Publishing Limited