Consensus forecast

Used in a number of sciences, ranging from econometrics to meteorology, consensus forecasts are predictions of the future that are created by combining together several separate forecasts which have often been created using different methodologies. Also known as combining forecasts, forecast averaging or model averaging (in econometrics and statistics) and committee machines, ensemble averaging or expert aggregation (in machine learning). Applications can range from forecasting the weather to predicting the annual Gross Domestic Product of a country or the number of cars a company or an individual dealer is likely to sell in a year. While forecasts are often made for future values of a time series, they can also be for one-off events such as the outcome of a presidential election or a football match.