In an article published in the Summer 2006 issue of Foresight: The International Journal of Applied Forecasting, author Tom Willemain argued that “while most forecast-error metrics are averages of forecast errors, for intermittent demand series, we should focus on the demand distribution and assess forecast error at each distinct level of demand.”
More than a decade later, Stephan de Kok, Technical Director at ToolsGroup, has provided a thoughtful response in Issue 46 of Foresight. This article, “The Quest for a Better Forecast Error Metric: Measuring More than the Average Error: is available to download now, free of charge.
Download your copy now, and if you’d like more thoughtful and useful insights into what works in forecasting, subscribe to Foresight. Foresight is published by the non-profit International Institute of Forecasters, a broadly cross-disciplinary organization that seeks to advance and improve the practice of forecasting.