Percentage error for the total sales forecast
This measure calculates total sales forecasting percentage error. It is calculated as the absolute value of ((Projected – actual sales) / actual sales) * 100. The projected period and the actual sales must correspond to the same period. Forecasted/Projected sales is the sales forecasted for the financial period. This measure is part of a set of Process Efficiency measures that help companies optimize the performance of their "Perform planning/budgeting/forecasting" process by minimizing waste and refining resource consumption.
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Compute this Measure
Units for this measure are percent.
Percentage error for the total sales forecast
Key Terms
Process efficiency represents how well a process converts its inputs into outputs. A process that converts 100% of the inputs into outputs without waste is more efficient than one that converts a similar amount of inputs into fewer outputs.