Forecast vs. Actuals Reporting

A conceptual photo of a transparent chessboard with demand-planning-process statistics

Forecast accuracy, Forecast error, and Forecast Bias are important metrics for measuring how successfully a business is able to predict their demand.

We are often asked how best to measure forecast vs. actuals for supporting a demand planning process. 

In the recording below, we’ve illustrated how to generate a simple forecast vs. actuals report using Microsoft Excel.  We show how to measure Mean Absolute Percentage Error (MAPE) and Weighted Mean Absolute Percentage Error (WMAPE).  WMAPE is recommended for communicating overall effectiveness of your forecast process.

 

 

 

Smart Demand Planner automates the demand forecasting and reporting process. 

To see how to generate forecasts on thousands of items and automatically measure their forecast accuracy, please register to view the recorded demo below.

 

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