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Published 8/2024 MP4 | Video: h264, 1920x1080 | Audio: AAC, 44.1 KHz Language: English | Size: 272.39 MB | Duration: 0h 39m How to use forecasting metrics to evaluate forecasts? What you'll learn How to compute RMSE, MAE, MAPE, WMAPE, and Bias Pros and Cons of each forecasting metric Which forecasting metric(s) to use when evaluating the quality of a forecast Evaluate the quality of a forecast using relevant KPIs Why MAPE is the worst forecasting KPI and what to do instead Requirements Excel basics Description This course will teach you how to use various forecasting metrics (Bias, MAE, MAPE, WMPAE, and RMSE) to select the best demand forecast. The end goal is that you can (as a demand planner or S&OP leader) automatically assess the quality of forecasts at scale - even if you have a wide product portfolio (including intermittency and products with different prices).Specifically, you will learn:The pros and cons of Bias, MAE, MAPE, and RMSE,How they react to intermittent demand and outliers,Why MAPE is the worst forecasting KPI, Which metric(s) to use to balance accuracy and bias. How to use value-weighted KPIs to assess the quality of your forecasts, even if you deal with various products with different prices.This course alternates theory with Do-It-Yourself exercises in Excel. You will learn by doing and gain hands-on experience with practical examples and case studies. You will be able to apply these concepts (and use the Excel templates) directly to your work environment for immediate impact.This course's content is based on my books (Data Science for Supply Chain Forecasting and Demand Forecasting Best Practices) and the content of the training course I teach to professionals and university students.The course only requires limited experience with Excel (such as using usual formulas such as average and sum). Overview Section 1: Introduction Lecture 1 Introduction Section 2: How to Compute Forecasting Metrics Lecture 2 Bias vs. Accuracy Lecture 3 Choosing the Best Forecast Lecture 4 Bias Lecture 5 MAE Lecture 6 MAPE Lecture 7 Playing with MAPE Lecture 8 RMSE Lecture 9 WMAPE vs. MAE% Section 3: Selecting the Best Forecasting Metric Lecture 10 Select the Best Forecast using Metrics Lecture 11 Select the Best Metric(s) Section 4: Value Weighted Metrics Lecture 12 Value-Weighted Metrics Section 5: Outro Lecture 13 Debrief Demand and supply planners,S&OP managers and leaders,Supply chain practitioners in general Screenshots [Hidden Content]] Homepage [Hidden Content]? [Hidden Content] Buy Premium From My Links To Get Resumable Support and Max Speed [Hidden Content] [Hidden Content] [Hidden Content] [Hidden Content] Say "Thank You"1 [Hidden Content] [Hidden Content] 33