Forecast Accuracy Metrics for Intermittent Demands: Look at the Entire Distribution of Demands

Tom Willemain

Foresight: The International Journal of Applied Forecasting, 2006, issue 4, pages 36-38

Abstract: While most forecast-error metrics are averages of forecast errors, Tom argues that, for intermittent-demand series, we should focus on the demand distribution and assess forecast error at each distinct level of demand. He illustrates how this can be done, and he suggests use of the chi-square statistic to judge the overall effectiveness of the forecast method. Copyright International Institute of Forecasters, 2006

Downloads: (external link)
http://www.forecasters.org/foresight/purchase.html

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Access Statistics for this article

More articles in Foresight: The International Journal of Applied Forecasting from International Institute of Forecasters
Contact information at EDIRC.
Series data maintained by Pam Stroud ().