MAE & RMSE by SKU and by Product Family: Accuracy Depends on the Level
This lesson is part of the course
In this lesson
You calculate MAE and RMSE for three dish-care SKUs with AVERAGEIFS, add the SKUs up to the family level and see how much smaller the family error is.
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Lessons in this course
- Forecast Errors: Error, Absolute Error & Squared Error Locked
- MAPE vs WAPE vs sMAPE: Why MAPE Breaks on Small Actuals Locked
- Forecast Bias, Bias % & the Tracking Signal (with a Warning Rule) Locked
- MAE & RMSE by SKU and by Product Family: Accuracy Depends on the Level Locked
- The Naive Benchmark & Forecast Value Added (FVA) Locked
- FVA Stairstep: Statistical Forecast vs Planner Override vs Consensus Locked
- Accuracy by Segment: ABC/XYZ Classes & Realistic Targets Locked
- Forecast Accuracy Dashboard: Accuracy %, FVA, Bias & a Trend Chart Locked