Enterprise glossary and term center

Research and understand all the intricate terms and definitions that surround the ecosystem of enterprise resource planning (ERP), enterprise software and no-code tools.

Forecast Error - What is forecasting error in finance?

In statistics, a forecast error is the difference between the actual or real and the predicted or forecast value of a time series or any other phenomenon of interest. ... By convention, the error is defined using the value of the outcome minus the value of the forecast.