Abstract
Forecasting is the one of the important part of decision making process. It helps managers to identify short term and long term future trends in the business activities. It may help in forecasting demand in retail store, predicting customer traffic at the petrol pump, calculation of probable population in upcoming years etc. There are plenty of studies published on forecasting techniques which are just introductory or highly mathematical and lacks in providing managerial perspective of solving business problems to the students. This chapter elucidates various forecasting techniques and its application in the field of management. In addition, various examples of real life problems are solved and analyzed with multiple forecasting techniques. Through this chapter students will have a clear understanding of the various nuances of different forecasting models in one single data set. Students will be able to identify future trend and seasonality in real life data set and evaluate more appropriate forecasting technique for the decision-making process.