1. A system for making real-time forecasts of a monitored system, comprising: a data acquisition component communicatively connected to a sensor configured to acquire real-time data output from the monitored system; a power analytics server communicatively connected to the data acquisition component, comprising, a virtual system modeling engine configured to generate predicted data output for the monitored system utilizing a virtual system model of the monitored system; an analytics engine configured to monitor the real-time data output and the predicted data output of the monitored system, and update the virtual system model based on the difference between the real-time data output and the predicted data output of the monitored system; and an adaptive prediction engine configured to forecast at least one aspect of the monitored system, the adaptive prediction engine further configured to minimize a measure of error between the real-time data output and a corresponding forecasted data output predicted; and a client terminal communicatively connected to the power analytics server, the client terminal configured to display the at least one forecasted aspect.