Mean Absolute Percentage Error (MAPE) Has Served Its Duty and Should Now Retire
BlueYonder
AUGUST 4, 2022
Therefore, it is fair to weight each country equally in this use case: A 5% error on the US GPD (about 25 trillion US$) hurts just as much as a 5% error on the Tuvalu GPD (about 66 million US$, 380,000 times smaller than the US GDP). You overpredict the total demand of that same product by 20% in Tuvalu? 99% 1 0.3% +9,900% Bananas 0.1
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