Forecasting (7): Forecast accuracy measures (MSE, RMSE, MAD & MAPE)

This video presents and explains the four most common forecast performance measures.
#forecasting #performance #accuracy #measure #RMSE #MAPE
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(1) ARIMA and NNAR: www.mdpi.com/1911-8074/12/2/103
(2) ARIMA, VAR and ANN: doi.org/10.1057/s41278-020-00...
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[@EastWood19802]

ISO 5725 uses two terms "trueness" and "precision" to describe the accuracy of a measurement method. "Trueness" refers to the closeness of agreement between the arithmetic mean of a large number of test results and the true or accepted reference value. "Precision" refers to the closeness of agreement between test results.

[@user-ic7px2dc3e]

Great Video. Thank you.

[@nasimaelassri696]

thank you so much sir

[@sunzarora]

How can we compare MAPE values of multiple algorithms?

[@angestephanie8190]

Thank u sir ,how can you connect this to the human capacity of working?

[@anshulkaushik010]

How to measure accuracy in an online method where we can have forecast but dont have real values

[@RESEARCHHUB]

if you do not have real values, you cannot calculate errors. that is why we use traning, test samples

[@anshulkaushik010]

@@RESEARCHHUB how can i test accuracy for any online forecasting method ? New data comes in every day. And forecasthorizon is for 30 days and data is in downward trend. The trend change can be non linear.

[@RESEARCHHUB]

@@anshulkaushik010 kzbin.info/www/bejne/Z2esfKaCob92orssi=vQ3WUuJE8yJHoGK-