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Signals and noise. Tackling forecast bias: Part 1.

The average level of MAPE for your forecast is 25%.

So what?

Is it good or bad? Difficult to say.

If it is bad, what should you do? Improve…obviously. But how? 

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The folly of chasing errors

‘Every month we ask each demand manager to identify their ‘top three’ forecast errors and explain what they are doing to prevent their recurrence’ .  

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