Weather and Forecasting · 2020 · 11 citations · 28 references
BusinessEconomicsMeteorologyForecastingNumerical Weather PredictionWeather ForecastingForecast Error AnalysisForecast EvaluationForecast UncertaintyForecasting MethodsForecasting UncertaintyProbabilistic ForecastingBiasesConsensusDecision ThresholdsForecast Evaluation Under UncertaintyForecast Model ComparisonMulti-model ForecastingMultimodel ForecastingProbabilistic Weather Forecasting
Abstract We compare single-valued forecasts from a consensus of numerical weather prediction models to forecasts from a single model across a range of user decision thresholds and sensitivities, using the relative economic value framework, and present this comparison in a new graphical format. With the help of a simple linear error model, we obtain theoretical results and perform synthetic calculations to gain insights into how the results relate to the characteristics of the different forecast systems. We find that multimodel consensus forecasts are more beneficial for users interested in decisions near the climatological mean, due to their reduced spread of errors compared to the constituent models. Single model forecasts may present greater benefit for users sensitive to extreme events if the forecasts have smaller conditional biases than the consensus forecasts and hence better resolution of such events. The results support use of consensus averaging approaches for single-valued forecast services in typical conditions. However, it is hard to cater for all user sensitivities in more extreme conditions. This underscores the importance of providing probability-based services for unusual conditions.
28