In this insightful video on Estimation of Errors in Forecasting for our Operations and Revenue Analytics course, we delve into essential metrics that help evaluate the accuracy of your forecasts. We will cover key concepts such as Average Error, Mean Absolute Deviation (MAD), Mean Squared Error (MSE), and Mean Absolute Percentage Error (MAPE), providing a comprehensive understanding of how to quantify forecasting errors. Additionally, we’ll introduce the Tracking Signal, a valuable tool for monitoring forecast performance over time.