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Advantages of the MAD/Mean Ratio over the MAPE

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Author Info
Stephan Kolassa
Wolfgang Schütz
Abstract

Stephan Kolassa and Wolfgang Schütz provide a careful look at the ratio MAD/Mean, which has been proposed as a substitute metric for the MAPE in the case of intermittent demand series. They explain how MAD/Mean can be viewed as a weighted mean of absolute percentage errors and thus as a weighted alternative to MAPE. They describe several advantages of MAD/Mean to the MAPE including applicability to inventory decisions, absence of bias in method selection, and suitability for series with intermittent as well as near-zero demands. Copyright International Institute of Forecasters, 2007

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Article provided by International Institute of Forecasters in its journal Foresight: The International Journal of Applied Forecasting.

Volume (Year): (2007)
Issue (Month): 6 (Spring)
Pages: 40-43
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Handle: RePEc:for:ijafaa:y:2007:i:6:p:40-43

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