The Collaborative International Dictionary of English v.0.48:

forecasting \fore"cast*ing\ n.
   The process of calculating and predicting future events,
   usually based on extrapolation from past experience, and with
   varying degress of uncertainty.

   Syn: prediction, foretelling.
        [WordNet 1.5 +PJC]

WordNet (r) 3.0 (2006):

forecasting
    n 1: a statement made about the future [syn: prediction,
         foretelling, forecasting, prognostication]