Forecast Errors and Error Estimations
In many applications, error estimation and understanding of the forecast error is at least as important as the forecast itself. RGA Labs has developed a package of solutions specifically tailored for industrial application of forecast error estimations.
The Metropolis™ system is typically installed with multiple forecast models forecasting the same output variable(s). The models are usually independent and diverse methods. In order to determine the forecasted variable(s), each of the model results is consulted and then “stacked” into a consistent result. At the same time, the error in the forecast is determined from the diversity of the model results.
Our database technology provides for the most complete and flexible analysis of weather and model performance. Errors can be determined both for past forecasts as well as estimated for future forecasts.
For more information on our forecasting technology, check out:
Forecast Modeling
Weather Systems
Metropolis™ System Architecture