Hej Mustafa, thanks for the video What to do when the sales demand for a month is "zero", my data set has zero sales at some months. So My MAPD goes into error since ABSDEV is divided by zero.
Excel & Analytics - Dr. Mustafa Canbolat in that regard, say i have a full year’s worth of data is it possible to use the forecasting methods to forecast 2-3 months ahead? Also is there any reason to do any forecasting for a business that just operated for two months?
So, which method should one use check the accuracy of the forecast? MAD, MAPD or MSE?
Hej Mustafa, thanks for the video
What to do when the sales demand for a month is "zero", my data set has zero sales at some months. So My MAPD goes into error since ABSDEV is divided by zero.
Hi, you can use MAD instead of MAPD, replace 0’s by 1(not a perfect solution), or use SMAPE (symmetric mean absolute percent error).
I hope you will still respond. I want to ask, can this method forecast for all the way 2-3 years ahead?
That may not be a good idea. You should always update your data with the most current actual value and forecast only a few periods ahead.
Excel & Analytics - Dr. Mustafa Canbolat in that regard, say i have a full year’s worth of data is it possible to use the forecasting methods to forecast 2-3 months ahead? Also is there any reason to do any forecasting for a business that just operated for two months?
Yes, that would be fine. Also you may want to use a subjective forecasting method not a time series if data is very limited.
Excel & Analytics - Dr. Mustafa Canbolat much appreciated Dr. Mustafa. Thanks for your guidance!
@@mcanbolat Hy, can you please what a subjective forecasting method is?