Mean Absolute Percentage Error (MAPE) Has Served Its Duty and Should Now Retire
BlueYonder
AUGUST 4, 2022
Before diving into granular forecasting in retail (on product-location-day level), let’s suppose to predict a much larger quantity: The yearly gross domestic product (GDP) of countries, measured in US$. The US GPD is much larger than Tuvalu’s, but one would consciously, and for good reasons, decide to treat them equally.
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