on 06-08-2023 8:44 AM
Hi Sumeet,
just 50cent from my side. I saw you used MPE as error measure in your best-fit model. I just wonder why you decided on MPE. Because from data science community it is non usual, however still possible, to use MPE as metric to fine-tune you forecasting model.
Best practice is:
- MAPE (some times MPE) is used for reporting and dashboarding, to show forecast accuracy to the users
- RMSE or MAE (in SAP we call it also MAD) are used to fine tune hyper parameters in forecasting model, select the best model
- BIC, AIK - these one is for ARIMA class models
The pros and cons of MAPE, MAE, MAD, RMSE are know, you can google it an check youtube.
BR,
Lev
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