The FVA Framework for Evaluating Forecasting Performance

Michael Gilliland ()
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Michael Gilliland: International Institute of Forecasters

Chapter Chapter 14 in Forecasting with Artificial Intelligence, 2023, pp 373-384 from Palgrave Macmillan

Abstract: Abstract The last decade has been an exciting and fruitful time for the advancement of forecasting. Traditional time series methods have been enhanced, and in some cases supplanted, by a new generation of data scientists bringing new approaches from machine learning and artificial intelligence. But this rapid innovation has fueled claims of performance improvement that require proper assessment. The forecast value added (FVA) framework provides an alternative to traditional methods for assessing forecasting performance.

Date: 2023
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DOI: 10.1007/978-3-031-35879-1_14

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