Forecasting Methods made simple - Measures of Forecasting accuracy

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Forecasting Methods made simple - Measures of Forecasting accuracy

Рет қаралды 22,199

Piyush Shah

Күн бұрын

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

Пікірлер: 28

@vedantgupta1162 4 жыл бұрын

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

@evelynregalado26 7 жыл бұрын

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 7 жыл бұрын

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

@AlanMckenzie 10 жыл бұрын

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 10 жыл бұрын

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

@charlesrobbins8893 9 жыл бұрын

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 4 жыл бұрын

awesomeeeee!!!!! very very simple to understand

@ismailnassar4103 3 жыл бұрын

Thanks a lot & hope you more success

@raamyschroeder 9 жыл бұрын

Simple and effective, Thank you!

@dan684al 3 жыл бұрын

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?

@pradeepraj4397 7 жыл бұрын

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

@ravindrapashte5259 3 жыл бұрын

Excellent

@aarongnanam 9 жыл бұрын

Great videos Sir, really appreciate it.

@TheMunishk 5 жыл бұрын

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 5 жыл бұрын

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 5 жыл бұрын

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

@piyushashah1 5 жыл бұрын

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

@pashtun-travels-uk Жыл бұрын

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

@manisakhonechinttaphong5304 8 жыл бұрын

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.

@Nuno911sz 9 жыл бұрын

Very helpful!

@ravindrapashte5259 3 жыл бұрын

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

@HoneiiBii 8 жыл бұрын

very helpful

@noraiz5105 3 жыл бұрын

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

@avinashyadav949 5 жыл бұрын

thank you sir

@NiharikaReddy1988 5 жыл бұрын

how do you calculate mape when some actuals are zero

@piyushashah1 5 жыл бұрын

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.