Contemporary Analysis

Data Science

Tadd Wood

Using Mean Absolute Error for Forecast Accuracy

Using mean absolute error, CAN helps our clients that are interested in determining the accuracy of industry forecasts. They want to know if they can trust these industry forecasts, and get recommendations on how to apply them to improve their strategic planning process. This posts is about how CAN accesses the accuracy of industry forecasts, when we don't have access to the original model used to produce the forecast.

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