Forecast Combination

Forecast combination aims to improve prediction accuracy by integrating forecasts from multiple models. Current research emphasizes hybrid approaches, combining statistical methods (like exponential smoothing) with deep learning architectures (including recurrent neural networks, transformers, and ensembles), often optimized using metaheuristics or multi-task learning to enhance both accuracy and diversity. These advancements are impacting various fields, from energy price prediction and solar power forecasting to mortality modeling and short-term load forecasting, by providing more reliable and robust predictions.