Operations Management: Forecast Errors (MSE, MAD, MAPE)

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This video demonstrates how to set up a quick table in Excel to calculate common forecast errors including Mean Squared Error (MSD), Mean Absolute Deviation (MAD), and Mean Absolute Percentage Error (MAPE)
  1. The Business Doctor
  2. Operations Managerment
  3. Forecasting
  4. Forecast Errors
  5. MSE
  6. MAD
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Комментарии
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Thank you! Studying for CPIM and your videos have been extremely helpful in bringing the boring text books to life.

j.b.
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have a OM 300 final today and I understand how to do most of the math but just wanted to watch someone do it again and these really help thank you

Zzzxxxzzzzty
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Hi, thanks for all you do here. Question, how do I set up an Excel sheet for the three period running averages? Any help is greatly appreciated! Have a great day!

busster
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Instead of satisfaction scores if you were calculating sales data would this be the same approach? Thank you

oliviatamburro
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Hi, is it only for one item for each calculation of forecast errors or for various items?

ptdayakemindoperkasa
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MAPE % will be low it means our forecasting is good? Or bad?

chitreshlahiri