Final answer:
The composite approach combines judgmental and quantitative forecasting methods to take advantage of each's benefits, often involving analytical intelligence and techniques like multivariate approaches.
Step-by-step explanation:
The forecasting process that incorporates both judgmental and quantitative approaches to forecasting is known as the composite approach. This involves combining various forecasting methods to make use of the advantages of each while potentially offsetting the disadvantages. Judgmental approaches include the insights and intuitions of experienced individuals, while quantitative methods rely on numerical data and statistical models.
When examining data for trends, analytical intelligence is primarily used. This type of intelligence is associated with the ability to evaluate, analyze, and synthesize information. Analytical modeling is involved in using mathematical equations for modeling linear aspects of ecosystems and is deemed ecologically realistic.
The concept of approaching a problem from multiple directions underpins the essence of the composite approach, ensuring validation and flexibility in forecasting. Multivariate approaches in conservation studies, which involve quantifying relationships between many measurements, are one form of advanced analytical method that can be part of a composite forecasting strategy.