Forecasting is the process of predicting future events or trends based on historical data and analysis. It is commonly used in various fields, such as business, economics, and meteorology, to make informed decisions. By examining patterns and relationships in past data, forecasters can estimate what might happen in the future. There are different methods of forecasting, including qualitative approaches, which rely on expert opinions, and quantitative methods, which use statistical techniques. Accurate forecasting can help organizations plan resources, manage risks, and improve overall efficiency, making it a valuable tool in strategic planning.