Model Summary Charts

Figure 1. Histogram of mean absolute percentage error
Histogram of mean absolute percentage error

This histogram displays the mean absolute percentage error (MAPE) across all models. It shows that all models display a mean uncertainty of roughly 1%.

Figure 2. Histogram of maximum absolute percentage error
Histogram of maximum absolute percentage error

This histogram displays the maximum absolute percentage error (MaxAPE) across all models and is useful for imagining a worst-case scenario for your forecasts. It shows that the largest percentage error for each model falls in the range of 1 to 5%. Do these values represent an acceptable amount of uncertainty? This is a situation in which your business sense comes into play because acceptable risk will change from problem to problem.

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