forecastaccuracya
Forecastaccuracya is a term occasionally used in forecasting literature to denote a generic, composite measure of forecast accuracy. The concept is not part of a standardized taxonomy, and its precise definition varies across studies and applications.
Common components of forecastaccuracya include the numeric closeness of forecasts to observed values across forecast horizons,
In practice, forecastaccuracya is often interpreted as a score on a 0 to 1 scale, where values
Applications of forecastaccuracya span diverse fields, including weather and climate forecasting, energy demand planning, finance, and
Limitations of forecastaccuracya include dependence on the chosen baseline and aggregation method, sensitivity to data frequency,
See also: forecast accuracy, forecast verification, model validation.