BIAS Indicator

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Include BIAS measurement in your tool with this plugin. The calculation of BIAS in demand planning is essential to understand how forecasts deviate from reality. While SMAPE (Symmetric Mean Absolute Percentage Error) and DFA (Damped Trend Forecasting Accuracy) are also measures of accuracy offered by the tool, BIAS focuses specifically on the overall tendency of the forecast to overestimate or underestimate demand. Unlike SMAPE, which assesses relative error regardless of the direction of variance, BIAS provides valuable information on the consistency and direction of forecast bias.

Integrating the BIAS calculation along with SMAPE in the assessment of forecast accuracy provides a holistic and complete view of forecast performance. This allows demand planners to understand not only the absolute level of error, but also the direction and consistency of variances, which in turn facilitates the identification of areas for improvement in the planning process.

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