MAPE
Units & Measurements abbreviation · Statistics
| Stands for | Mean absolute percentage error |
|---|---|
| Categories | Units & Measurements |
MAPE stands for Mean absolute percentage error, a statistics abbreviation.
The average of absolute errors expressed as percentages of the actual values, a popular accuracy measure in sales and demand forecasting. A MAPE of 8 percent means forecasts miss by 8 percent on average.
Example: The demand forecast achieved a MAPE of 7.5% across 400 products.
Usage notes
MAPE is undefined when actual values are zero, explodes when they are small and penalizes over- and under-forecasts asymmetrically. Alternatives such as weighted MAPE and MASE address these problems. It remains popular because business users understand percentages.
Related abbreviations
More statistics abbreviations
- LLN – Law of large numbers
- M – Mean (APA style)
- MAD – Mean absolute deviation
- MAE – Mean absolute error
- MANOVA – Multivariate analysis of variance
- MAP – Maximum a posteriori
- MAR – Missing at random
- MCAR – Missing completely at random
- MCMC – Markov chain Monte Carlo
- Mdn – Median
- MGF – Moment-generating function
- MLE – Maximum likelihood estimation