Calibration and Sharpness: The Two Independent Aspects of Forecast Quality
BlueYonder
AUGUST 22, 2023
What Is a Good Forecast? Forecasts are like friends: Trust is the most important factor (you don’t ever want your friends to lie to you), but among your trustable friends, you prefer meeting those that tell you the most interesting stories. We want forecasts to be “good,” “accurate,” and “precise.” But what do we mean by that?
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