3.8 Further reading

  • Ord et al. (2017) provides further discussion of simple benchmark forecasting methods.
  • A review of forecast evaluation methods is given in Hyndman & Koehler (2006), looking at the strengths and weaknesses of different approaches. This is the paper that introduced the MASE as a general-purpose forecast accuracy measure.


Ord, J. K., Fildes, R., & Kourentzes, N. (2017). Principles of business forecasting (2nd ed.). Wessex Press Publishing Co. [Amazon]

Hyndman, R. J., & Koehler, A. B. (2006). Another look at measures of forecast accuracy. International Journal of Forecasting, 22, 679–688. https://robjhyndman.com/publications/automatic-forecasting/