What is 'profile for forecast error calculations' in SAP SCM-IBP-DM - Demand?

profile for forecast error calculations - Overview

• Component: SCM-IBP-DM

• Component Name: Demand

• Description: A means to organize groups of forecast error measures created in the Manage Forecast Error Calculations app so that the groups of forecast measures can be run as one application job.

profile for forecast error calculations - Details

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  Key Concepts: 
  A profile for forecast error calculations is a setting in SAP's Demand Planning component of the Supply Chain Management-Integrated Business Planning (SCM-IBP) suite. This profile allows users to define the parameters for calculating forecast errors, such as the type of error calculation, the time period, and the forecast horizon. 
  
  How to use it: 
  To use a profile for forecast error calculations, users must first create a profile in the Demand Planning component of SCM-IBP. This can be done by navigating to the “Forecast Error Calculation” tab in the Demand Planning settings. Once there, users can select the type of error calculation they wish to use, such as mean absolute percentage error (MAPE) or mean absolute deviation (MAD). They can also specify the time period and forecast horizon for which they want to calculate errors. 
  
  Tips & Tricks: 
  When creating a profile for forecast error calculations, it is important to consider the type of error calculation that best suits your needs. For example, if you are looking for a more accurate measure of forecast accuracy, you may want to use MAPE instead of MAD. Additionally, it is important to consider the time period and forecast horizon when creating a profile; these should be set according to your specific forecasting needs. 
  
  Related Information: 
  For more information on profiles for forecast error calculations in SAP's Demand