What is Mean Absolute Percentage Error (mape)

1.

A measure of how accurate a forecast system is and measures this accuracy as a percentage. Learn more in: US Medical Expense Analysis Through Frequency and Severity Bootstrapping and Regression Model

2.

MAPE is used as a figure of merit to identify whether a data mining method is performing well or not. The lower the MAPE, the better the performance of the data mining method. Learn more in: Data Mining in Tourism

3.

MAPE is a non-scaled error metric. Learn more in: Neural Network Time Series Forecasting Using Recency Weighting

4.

The mean or average of the absolute percentage errors of forecasts, also known as mean absolute percentage deviation (MAPD). It is a measure of accuracy of a method for constructing fitted time series values in statistics, specifically in trend estimation. This measure is easy to understand because it provides the error in terms of percentages. Learn more in: Disaggregate Model to Forecast Transformer Usage