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Error metric

From Wikipedia - Reading time: 1 min

An Error Metric is a type of Metric used to measure the error of a forecasting model. They can provide a way for forecasters to quantitatively compare the performance of competing models. Some common error metrics are:

  • Mean Squared Error (MSE)
  • Root Mean Square Error (RMSE)
  • Mean absolute error (MAE)
  • Mean Absolute Scaled Error (MASE)
  • Mean Absolute Percentage Error (MAPE)
  • Symmetric Mean Absolute Percentage Error (SMAPE)
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Original source: https://en.wikipedia.org/wiki/Error metric
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