A composite forecast combines forecasting techniques from various forecast streams for a specific brand, product category, or product, such as time series, casual, and/or judgmental forecasting methods. The composite forecasting technique uses a different approach while still basing its forecast on the same historical data. One forecasting technique is not always reliable because of the shifting needs and demands for goods and services as time and circumstances change. Therefore, a lot of businesses will decide to create a composite forecast by combining their practiced forecasts.
