Techniques for performing adaptive and robust prediction. Prediction techniques are adaptive in that they use a minimal amount of historical data to make predictions, the amount of data being selectable. The techniques are able to learn quickly about changes in the workload traffic pattern and make predictions, based on such learning, that are useful for proactive response to workload changes. To counter the increased variability in the prediction as a result of using minimal history, robustness is improved by checking model stability at every time interval and revising the model structure as needed to meet designated stability criteria. Furthermore, the short term prediction techniques can be used in conjunction with a long term forecaster.