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Forecast Accuracy Formula: 4 Easy Calculations in Excel

Download the Forecast Accuracy Calculation in Excel here: https://abcsupplychain.com/forecast-a... Join my Demand Forecasting WORKSHOP (free): https://abcsupplychain.com/demand-for... How to Track & Improve Forecast Accuracy? 🎯 In my new YouTube Video, I released a step-by-step tutorial with 4 straightforward forecast accuracy formulas in Excel. No matter if you forecast sales, new product launches, production demand... My goal is for you to improve your forecast accuracy. And make it simple to boost your performance. As always, you can download an Excel template to start measuring forecast accuracy immediately with your company 🚀 Enjoy this video, and let me know how you track and improve your forecasting accuracy KPIs! ▬▬▬▬▬▬▬▬▬▬▬ CHAPTERS ▬▬▬▬▬▬▬▬▬▬▬▬ 00:00 Intro 00:26 Why is Forecast Accuracy Important? 01:55 Have a Forecast 03:25 Define a Forecast Horizon 05:25 Save Historical Forecasts & Demand 08:24 Choose a Calculation Method 10:05 BIAS in Excel 11:52 MAE in Excel (Mean Absolute Error) 14:08 MAPE in Excel (Mean Absolute Percentage Error) 15:44 RMSE in Excel (Root Mean Square Error) 18:15 Forecast Accuracy Method Comparison 20:16 How to Improve Forecast Accuracy? ►MY BLOG: https://abcsupplychain.com/ #demandforecasting #forecastaccuracy