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Calculating forecast accuracy as a percentage
I am wanting to calculate forecast accuracy compared to sales where I have one column with actual sales figures and two other columns with forecasts. What I need to do is display the accuracy of each forecast against actual sales in terms of a percentage. Simply showing the percentage difference is not good enough (can be anywhere from -200% to +200% as our sales guys are rubbish at forecasting), I need to show the accuracy as a figure from 0% to 100%. I've been mucking around with this for over three hours and not getting anywhere. Can anyone provide some assistance? -- AussieExcelUser ------------------------------------------------------------------------ AussieExcelUser's Profile: http://www.excelforum.com/member.php...o&userid=32326 View this thread: http://www.excelforum.com/showthread...hreadid=549249 |
#2
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Calculating forecast accuracy as a percentage
The efficiency of the forecast is: 1-(actual/forecast)*100; a negative value would indicate actual as less than forecast... -- protonLeah ------------------------------------------------------------------------ protonLeah's Profile: http://www.excelforum.com/member.php...o&userid=32097 View this thread: http://www.excelforum.com/showthread...hreadid=549249 |
#3
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Calculating forecast accuracy as a percentage
Thanks for the response Ben. I was hoping to be able to go with a percentage accuracy figure but am happy to go with an efficiency figure instead as you suggest. However, do I assume correctly that a figure closest to zero is the best when measuring the efficiency of the various forecasts against actual sales (-5 is better than 20)? -- AussieExcelUser ------------------------------------------------------------------------ AussieExcelUser's Profile: http://www.excelforum.com/member.php...o&userid=32326 View this thread: http://www.excelforum.com/showthread...hreadid=549249 |
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