The non-dispatchable variability of wind power production presents a substantial challenge to electric system operators who are assigned the task of balancing the demand and generation at each moment at the lowest possible cost while maintaining ultra-high system reliability. The economic factor is the key component of this problem since one can always adequately manage variability and maintain reliability if cost is not considered. There are four key components to a forecasting solution that should each be optimized in order to provide maximum value to the end user: (1) high-quality and representative measurement data for input into the forecasting procedure, (2) skillful forecasting models, (3) effective communication of the critical forecast information to automated or manual decision-makers and (4) meaningful assessment of forecast performance to provide users with confidence in using the forecast information for decision-making.