Forecasting Methods made simple - Measures of Forecasting accuracy

The Video explains the some measures of forecasting accuracy and how to calculate them using MS Excel.

[@vedantgupta1162]

Excellent and simple explanation of Forecasting Methods.... Many Thanks

[@evelynregalado26]

One million thank you's! I learned this stuff back in college, but when it recently came up at work (almost a decade later🤦‍♀️) I really needed a refresher/crash course! 🤷‍♀️😭 Thank you, one million and one times! 🙏🤗👍

[@piyushashah1]

One million and two thank yous for leaving such a wonderful message! Glad that the video could help you.

[@AlanMckenzie]

You're a great teacher sir! I learned this material about a year ago but it's always good to refresh your skills if you don't use them everyday. You're a genius, keep them coming :) I really appreciate it.

[@piyushashah1]

Thanks a lot Alan. It really feels good to receive such feedback...makes the effort worth it!!

[@raamyschroeder]

Simple and effective, Thank you!

[@charlesrobbins8893]

Thank you for your summary. My company asked me to learn how to be a forecast analyst. I am looking for a way to master this material. Your explanation was very helpful. You are a good teacher. Congratulations on a job well done.

[@cooktube7355]

awesomeeeee!!!!! very very simple to understand

[@aarongnanam]

Great videos Sir, really appreciate it.

[@ravindrapashte5259]

Excellent

[@ismailnassar4103]

Thanks a lot & hope you more success

[@pradeepraj4397]

Thank you Sir. So helpful work you are doing. Keep it up sir :)

[@Nuno911sz]

Very helpful!

[@HoneiiBii]

very helpful

[@avinashyadav949]

thank you sir

[@dan684al]

Very informative...I've one question, why didn't you take the MAD= 6.16 in calculating the Tracking signal based on the formula.. and what is the difference between the two?

[@manisakhonechinttaphong5304]

Thank you, Nice lesson. recently, I'd like to do the Time series analysis-trend about climate such as rainfall, temperature for predicting 5 years, 10 years by using mann kendall test method. Could you please give me some example how to predict rainfall or temperature in future 5 years and 10 years using mann kendall test method? Thank you so much for your kind.

[@pashtun-travels-uk]

it was very clear sir.... just didnt understand whats the tracking signal?

[@TheMunishk]

Thanks for informative videos. Could you tell further that out all error accuracy determination methods you explained which one is most effective? Is it MAD ,MAPE or tracking signal?

[@piyushashah1]

Tracking signal is a method to judge if the current forecasting method is good enough, so per se, it is not a method to determine forecast accuracy. Between MAD and MAPE I don;t think it matters what you choose. Since MAPE is in per cent, you can compare accuracy across products. For MAD, it is very easy to calculate and understand.

[@TheMunishk]

@@piyushashah1 What benchmark of tracking signal or in other words what number of tracking signal will tell me about quality of my forecast?

[@piyushashah1]

@@TheMunishk en.wikipedia.org/wiki/Tracking_signal

[@ravindrapashte5259]

Please do some videos related to SAP APO, IBP, HANA

[@noraiz5105]

hi Piyush how to choose a forecasting method? I mean on what qualitative basis?

[@3jayendra]

Please sir ..share the excel sample

[@NiharikaReddy1988]

how do you calculate mape when some actuals are zero

[@piyushashah1]

If this is an academic question - we have many research papers that deal with the issue, for example www.sciencedirect.com/science/article/pii/S0169207016000121 And, if this a real life problem, I need more data, for MAPE may not be the right measure for you.

[@Nuno911sz]

Very helpful!