1. A computer-implemented method for automatically generating a weighted average forecast model comprising: receiving a plurality of forecasting models; receiving time series data; optimizing at least one parameter of each of the received forecasting models utilizing the received time series data; generating a weighting factor for each of the plurality of optimized forecasting models utilizing an information criteria value indicating fit quality of each of the optimized forecasting models; and storing the generated weighting factors in a computer-readable medium.