Forecasting using SAS Forecast Server, SAS/ETS, and more

SAS Forecasting/ Modeling

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SAS Forecasting/ Modeling

Hi,
May i know the detailed concept of Accuracy in forecasting?. And how is it used?.
Thanks,
Russ
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Re: SAS Forecasting/ Modeling

Posted in reply to deleted_user
Sir,
May i know Why is the MAPE is best?.
Thanks,
Rus
SAS Employee
Posts: 416

Re: SAS Forecasting/ Modeling

Posted in reply to deleted_user
Hi Russ,
Best to my knowledge it might be fair to state that MAPE is the most popular forecasting statistic. This does not imply that it is the best one to use. In fact there are many know limitations to MAPE - for example if the actual values are 0.

May I refer you to "Another look at measures of forecast accuracy" by Rob J. Hyndman andAnne B. Koehler for a detailed discussed and comparison of different forecasting accuracy statistics.
The paper can be accessed at: http://www.robjhyndman.com/index.php?option=com_content&task=view&id=280&Itemid=69

Regards,
Udo
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