SMAPE is also known as “Symmetric Mean Absolute Percentage Error”. It is used to predict the accuracy of measures on the basis of percentage error. In this tutorial, we are going to how we can calculate SMAPE in Excel with just 3 easy steps. SMAPE = (1/n) * Σ(|forecast – actual| / ((|actual| + |forecast|)/2) … Read more

Have you ever heard of Forecasting Accuracy? Forecasting Accuracy is nothing but the closeness of actual quantity to a particular quantity. Here the actual quantity is often called True Value. The concept of Mean Absolute Percentage Error (MAPE) is more focused on Forecasting Accuracy. We can measure the forecasting accuracy by using the MAPE model. … Read more

Mean Squared Error (MSE) or Mean Square Deviation (MSD) is used to determine the measure of the average of the square of error for any model. In this tutorial, we are going to see how you can calculate the Mean Squared Error or Mean Squared Deviation In Excel by using just simple 3 steps. As … Read more

Excel is always everyone’s favorite tool when it comes to using it as a database or data entry and many data analysis is also using this free and powerful tool. Here we are having much default settings that we shouldn’t mess up with but the time it is necessary to mess up with them as … Read more

In the continuous set-up, many times it is observed that the variable follows a specific pattern. This behavior of the r.v. can be described in the mathematical form called probability models, we are going to study a few important continuous probability distributions; such as uniform distribution in excel. What Is Uniform Distribution? In this distribution, … Read more