MAPE
The Mean Absolute Percent Error, determined using the absolute difference between demand and forecast over a period. Calculated as [Σ N observations (Abs(Demand of X periods - Forecast of X periods))] / [Σ N observations ((Demand of X periods + Forecast of X periods) / 2)]
• The range is [0, 2]
• A value closer to zero indicates an accurate forecast
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Each demand or forecast record is formed by aggregating data of x forward-looking periods:
• For PAI Foundation dashboards, the forecast metrics are calculated using x = 1 slice
• For PAI Advanced dashboards, the forecast metrics are calculated using x= Lead Time, x = 3, or x = 6 slices
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