"Forecastability" is a frequent topic of discussion on The BFD, and an essential consideration when evaluating the effectiveness of any forecasting process. A major critique of forecasting benchmarks is that they fail to take forecastability into consideration: An organization with "best in class" forecast accuracy may do so only because
Mercifully, we have reached the final installment of Q&A from the June 20 Foresight-SAS webinar, "Forecast Value Added: A Reality Check on Forecasting Practices." As a reminder, a recording of the webinar is available for on-demand review, and the Foresight article (upon which the webinar was based) is available for free
Q: Is the MAPE of the naive forecast the basis for understanding the forecastability of the behavior? Or are there other more in depth ways to measure the forecastability of a behavior? MAPE of the naive forecast indicates the worst you should be able to forecast the behavior. You can
