Forecast Accuracy: Why Mape? ...Middle East

Yield management allows hotels to manage the capacity of their rooms more profitably, and the accuracy of statistical forecasting determines how useful it will be. Inaccurate forecasts can result in decreased revenue, earnings, and operational challenges, which makes getting it right critical. Even with great revenue management software, determining the accuracy can be tricky when dealing with more detailed forecasts. The mean absolute percentage error (MAPE), measures accuracy of a forecasting method. The error is measured as an absolute value. Removing negative values from the equation (see chart below) allows the accuracy to be calculated without positive and negative numbers canceling ea

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