What are the difference in short term forecasting and long term forecasting?

Short-term forecasting focuses on predicting outcomes over a brief period, typically ranging from a few days to a year, and is often used for operational decision-making. It relies heavily on recent data and trends, making it more responsive to immediate changes. In contrast, long-term forecasting looks at projections over several years or even decades, emphasizing broader trends and structural changes. This type of forecasting often incorporates more qualitative data and assumptions, making it more susceptible to uncertainty.