What Is Forecast Bias?

Q) What is forecast bias? Do you have a view on what should be considered as “best-in-class” bias? A) It simply measures the tendency to over-or under-forecast. It is an average of non-absolute values of forecast errors. If it is negative, a company tends to over-forecast; if positive, it tends to under-forecast. In the machine … Continue reading What Is Forecast Bias?