WMAPE

Advantage: The advantage of this metric over MAPE is that this overcomes the ‘infinite error’ issue. Key word: Evaluation Usage: A measure of prediction accuracy of a forecasting method.

WMAPE: weighted mean absolute percentage error’

A measure of prediction accuracy of a forecasting method.

\[\begin{equation} WMAPE = \frac{\sum^n_{t=1}|A_t - F_t|}{\sum^n_{t=1}|A_t|} \end{equation}\]

$A_t$ is a vector of actual data and $F_t$ is a vector of forecast

The advantage of this metric over MAPE is that this overcomes the ‘infinite error’ issue.