IDEAS home Printed from https://ideas.repec.org/a/for/ijafaa/y2007i7p17-22.html
   My bibliography  Save this article

Use Scaled Errors Instead of Percentage Errors in Forecast Evaluations

Author

Listed:
  • Lauge Valentin

Abstract

Lauge Valentin presents a case for abandoning percentage errors when evaluating forecasts and replacing them by scaled errors. He describes how the shift from percentage errors to scaled errors was motivated by his company’s need for an accuracy statistic that would lend itself to benchmarking across product groups. Lauge shows how scaled error measures are used in the LEGO Group for evaluating forecast performance. Copyright International Institute of Forecasters, 2007

Suggested Citation

  • Lauge Valentin, 2007. "Use Scaled Errors Instead of Percentage Errors in Forecast Evaluations," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 7, pages 17-22, Summer.
  • Handle: RePEc:for:ijafaa:y:2007:i:7:p:17-22
    as

    Download full text from publisher

    File URL: https://foresight.forecasters.org/shop/
    Download Restriction: no
    ---><---

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Hill, Arthur V. & Zhang, Weiyong & Burch, Gerald F., 2015. "Forecasting the forecastability quotient for inventory management," International Journal of Forecasting, Elsevier, vol. 31(3), pages 651-663.
    2. Emilian Dobrescu, 2014. "Attempting to Quantify the Accuracy of Complex Macroeconomic Forecasts," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-21, December.
    3. Gorr, Wilpen L., 2009. "Forecast accuracy measures for exception reporting using receiver operating characteristic curves," International Journal of Forecasting, Elsevier, vol. 25(1), pages 48-61.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:for:ijafaa:y:2007:i:7:p:17-22. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Michael Gilliland (email available below). General contact details of provider: https://edirc.repec.org/data/iiforea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.