Systems and methods are provided for generating a forecasting model based on a set of measured values. Consistent with certain embodiments, the forecasting model may include a seasonal function and a trend function. Further, consistent with other embodiments, the computer-implemented systems and methods may include computing the forecasting model by minimizing an error function representing the error between the forecasting model and the measured values. In addition, consistent with yet other embodiments, the computer-implemented systems and methods may include a process for outlier detection and removal based on a computation of residuals. Still further, consistent with some embodiments, systems and methods may be provided to filter the seasonality and/or the trend components to eliminate sudden variations in the model predictions resulting from sudden, large variations in the measurement values.