Long-range forecasting is the process of predicting future events or trends over an extended period, typically beyond one year. This method uses various techniques, including statistical models and expert judgment, to analyze data and identify patterns. It is commonly applied in fields like economics, weather, and business planning to help organizations make informed decisions. The accuracy of long-range forecasts can vary due to the complexity of factors involved, such as changing market conditions or unexpected events. Despite these challenges, long-range forecasting remains valuable for strategic planning, allowing businesses and governments to prepare for potential future scenarios and allocate resources effectively.