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Former Member
Jan 09, 2009 at 02:00 PM

Forecasting models and errors


Hi Expeing

I have following queries with regard to the forecasting Techniques:

1)How can we identify the periods in Seasonality?How to judge the seasonal periods to be taken for running the seasonal forecasting models?

2)How the errors are used in judging the forecast?As we have 6 errors what is the importance of the errors(MAD,MAPE,MSC,MPE,RMSC)?

What error should be taken as consideration while forecasting?

Why some planners only consider MAD and some planners only consider MAPE ,MSC while judging the forecast models?What is the difference between MAD,MAPE,MSC,MPE &RMSE

Please throw some light on the above questions.Your reply is highly awarded.

with regards