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Book part
Publication date: 17 November 2010

Ronald K. Klimberg, George P. Sillup, Kevin J. Boyle and Vinay Tavva

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…

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.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-201-3

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Book part
Publication date: 17 November 2010

Abstract

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-0-85724-201-3

1 – 2 of 2