AllMetrics (Q64704)
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Calculating Multiple Performance Metrics of a Prediction Model
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| default for all languages | No label defined |
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| English | AllMetrics |
Calculating Multiple Performance Metrics of a Prediction Model |
Statements
28 September 2023
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Provides a function to calculate multiple performance metrics for actual and predicted values. In total eight metrics will be calculated for particular actual and predicted series. Helps to describe a Statistical model's performance in predicting a data. Also helps to compare various models' performance. The metrics are Root Mean Squared Error (RMSE), Relative Root Mean Squared Error (RRMSE), Mean absolute Error (MAE), Mean absolute percentage error (MAPE), Mean Absolute Scaled Error (MASE), Nash-Sutcliffe Efficiency (NSE), Willmott’s Index (WI), and Legates and McCabe Index (LME). Among them, first five are expected to be lesser whereas, the last three are greater the better. More details can be found from Garai and Paul (2023) <doi:10.1016/j.iswa.2023.200202>.
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