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Is it possible to produce an own model accuracy measure that takes 100% - MAPE?

If MAPE is 5 % for example, the model accuracy would be 95%? Or is that statistically incorrect?

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It's a simple transformation of the MAPE, so it's as "statistically correct" as using the MAPE in the first place.

Note that the MAPE may exceed 100%, so your accuracy may become negative. This can be disconcerting, and lead to strange behavior by forecast consumers, like truncating accuracy at 0%, which is not a good idea.

You may find this thread helpful: What are the shortcomings of the Mean Absolute Percentage Error (MAPE)?

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  • $\begingroup$ ok great! Thanks for the link. $\endgroup$
    – endorphinus
    Commented Sep 4, 2020 at 7:35

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