Forecast accuracy
Also called: forecast precision, forecast error performance, demand accuracy
ELI5
A number showing how closely forecasts match actual outcomes.
Used in conversation
“Keep forecast accuracy on the dashboard, but show the definition and reporting period beside it.”
Definition
A measure of how closely forecasts match actual outcomes.
Here “Forecast accuracy” means: A measure of how closely forecasts match actual outcomes.
Pitch context
You will see “Forecast accuracy” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches inventory, demand & supply planning.
Why it matters: In inventory, demand & supply planning, different calculation boundaries, periods or accounting treatments can change the number and the decision.
Caution
Calculation, recognition and disclosure can vary by accounting framework, company policy and reporting context.
Sources & evidence · 8
Direct term-level sources and supporting source families.
- U.S. Small Business Administration — Write your business planDirect source · primary · checked 2026-08-16
- IFRS Foundation — IFRS GlossaryDirect source · primary · checked 2026-08-16
- U.S. Bureau of Labor Statistics — Productivity programmeDirect source · primary · checked 2026-08-16
- Financial Accounting Standards Board — FASB Accounting Standards CodificationSupporting source family · primary · checked 2026-08-16
- U.S. Small Business Administration — Break-even pointSupporting source family · primary · checked 2026-08-16
- U.S. Securities and Exchange Commission — Non-GAAP Financial Measures — Compliance and Disclosure InterpretationsSupporting source family · primary · checked 2026-08-16
- U.S. Acquisition.gov — Federal Acquisition Regulation Part 15 — Contracting by NegotiationSupporting source family · primary · checked 2026-08-16
- UK Government — Groceries Supply Code of PracticeSupporting source family · primary · checked 2026-08-16