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How to measure forecast accuracy ?

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Question added by Deleted user
Date Posted: 2014/03/31
Ameya Pai Angle
by Ameya Pai Angle , Summer Intern (Purchase and Warehouse Management) , Indoco Remedies Ltd

Though I do not have practical experience of forecasting, a theoritical answer would be

1. Using multiple methods of forecasting

2. Comparing with sales data of previous year and analysing with current market conditions

3. conducting test on sample and extrapolating it for larger audience.

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