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The earliest reference to a similar formula appears to be Armstrong (1985, p. 348), where it is called "adjusted MAPE" and is defined without the absolute values in the denominator. It was later discussed, modified, and re-proposed by Flores (1986).
Mean absolute percentage error; Mean squared error; Mean squared prediction error; Minimum mean-square error; Squared deviations; Peak signal-to-noise ratio; Root mean square deviation; Errors and residuals in statistics
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In statistics and management science, a tracking signal monitors any forecasts that have been made in comparison with actuals, and warns when there are unexpected departures of the outcomes from the forecasts.
Calculating demand forecast accuracy is the process of determining the accuracy of forecasts made regarding customer demand for a product. [14] [15] Understanding and predicting customer demand is vital to manufacturers and distributors to avoid stock-outs and to maintain adequate inventory levels. While forecasts are never perfect, they are ...
Michael Fish - A few hours before the Great Storm of 1987 broke, on 15 October 1987, he said during a forecast: "Earlier on today, apparently, a woman rang the BBC and said she heard there was a hurricane on the way.
When the model has been estimated over all available data with none held back, the MSPE of the model over the entire population of mostly unobserved data can be estimated as follows.