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How to Track Forecast Accuracy to Guide Forecast Process Improvement

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  • Jim Hoover

Abstract

While considerable attention has been paid to the measurement of forecast accuracy for individual items at particular points in time, issues around an aggregated forecast-accuracy metric and its tracking over time still present opportunities for discussion. Jim Hoover talks about why organizations have neglected the task of tracking forecast accuracy and offers a step-by-step guide for getting back on the track. Copyright International Institute of Forecasters, 2009

Suggested Citation

  • Jim Hoover, 2009. "How to Track Forecast Accuracy to Guide Forecast Process Improvement," Foresight: The International Journal of Applied Forecasting, International Institute of Forecasters, issue 14, pages 17-23, Summer.
    • Handle: RePEc:for:ijafaa:y:2009:i:14:p:17-23
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    Cited by:

    1. Philippe St-Aubin & Bruno Agard, 2022. "Precision and Reliability of Forecasts Performance Metrics," Forecasting, MDPI, vol. 4(4), pages 1-22, October.
    2. Emilian Dobrescu, 2014. "Attempting to Quantify the Accuracy of Complex Macroeconomic Forecasts," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(4), pages 5-21, December.
    3. Johnson, Will & Clancy, Thomas & Bastian, Pascal, 2015. "Child abuse/neglect risk assessment under field practice conditions: Tests of external and temporal validity and comparison with heart disease prediction," Children and Youth Services Review, Elsevier, vol. 56(C), pages 76-85.

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