This document defines forecasting and discusses different forecasting models and techniques. It provides the following information: - Forecasting involves predicting future events based on historical data and is used for business operations, economics, and social sciences. Forecasts can be short-term (less than 3 months), medium-term (3 years), or long-term (over 3 years). - Good forecasts are timely, reliable, accurate, meaningful, written, and easy to understand. Qualitative models use personal experience while quantitative models use available data. - Qualitative techniques include the Delphi technique, nominal group technique, and historical data analysis. Quantitative techniques include time series methods, causal methods, and regression analysis.