Meaning & use
forecast error
Last updated
Meanings
nouncountable
The difference between a predicted value and the actual value that occurs.
Grammar: Countable: you can say a forecast error or forecast errors.
Patterns
- a forecast error of something
- reduce forecast errors
- measure forecast error
The forecast error for last quarter's sales was larger than expected.
Analysts try to minimize forecast errors by using better models.
A small forecast error can lead to big problems in inventory planning.
nouncountable
A mistake made in predicting future events, often due to incorrect assumptions or data.
Grammar: Countable: often used in plural, forecast errors.
Patterns
- make a forecast error
- avoid forecast errors
The company made a forecast error when it underestimated demand.
Economists are studying the forecast errors from the recession.
Word forms
| plural | forecast errors |
|---|
Common combinations
- large forecast error
- The large forecast error caused a budget shortfall.
- forecast error measurement
- Forecast error measurement helps improve planning.
- reduce forecast error
- New software helped reduce forecast error.
Synonyms and how they differ
- prediction error
- Prediction error is a more general term; forecast error is specifically used for forecasts of future events.
- estimation error
- Estimation error often refers to errors in estimating current or past values, while forecast error is about future values.
Word family
- forecast verb
- To predict a future event or condition.
- forecaster noun
- A person who makes forecasts.
Commonly confused: forecast error or forecast?
forecast error vs forecast
Forecast is the prediction itself, while forecast error is the difference between the prediction and the actual outcome.
Practice
Which sentence uses 'forecast error' correctly?
Choose one answer.
Forecast error is a noun phrase meaning the difference between prediction and reality. Option 0 uses it correctly. The other options misuse it as a verb or in unrelated contexts.
Make it your own
Write a sentence using “forecast error”, then check it and compare it with the examples above.