Combines forecasts from alternative forecasting methods (such as times series, casual, and/or judgmental) for a particular brand, product family or product. Each forecast is based on the same historical data but uses a different technique. The underlying objective is to take advantage of the strengths of each method to create a single "one number" forecast. Either you can average the forecasts giving each one equal weight, or you can weight each one differently, or you can vary the weightings of each forecast over time.
By combining the forecasts, the business analyst's objective is to develop the best forecast possible. The composite forecasts of several mathematical and/or judgmental methods have been proven to out-perform the individual forecasts of any of those methods used to generate the composite.
More terms such as composite forecasting in Dictionary C.
- Manual Contra Item:
- Help transmitted to the Consolidation system automatically can cause the balance of certain financial statement items to be reversed, making it necessary to show the value on the other side of the balance composite forecasting definition.
- Manual Criteria Type:
- Help The standard for rules (technical or non-technical composite forecasting explain.
- Manual Clarification Worklist For Old Locked Settlement Schedule It:
- Help Displays settlement schedule items for which no fulfillment notifications have been issued, or not enough to initiate their release composite forecasting what is.
- Manual Checklist Item:
- Help A part of a checklist that represents an important requirement that has to be met in order to achieve the project goal composite forecasting meaning.
- Manual Customs Duties:
- Help A duty or tax imposed by a government on imported and exported goods composite forecasting abbreviation.
