As we know a simple matter of spotting bias – systematic under or over forecasting – can get surprisingly tricky in practice if our actions are to be guided by scientific standards of evidence – which they need to be if we are actually going to improve matters.
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The average level of MAPE for your forecast is 25%. So what? Is it good or bad? Difficult to say. If it is bad, what should you do? Improve…obviously. But how?
After her round of meetings with financial planning and analysis professionals across the globe, Larysa Melnychuk, managing director of the London FP&A Club, returned with plenty of stories and insights about the challenges they face.
A number of years ago I was contacted by a manager in the Health profession and asked if I could tell them 25 measures they should be tracking.
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