Seamless integration of information in organizations promotes not only the operational efficiency but also the quality of decisions made by managers. Real-time decision support systems enable organizations to evaluate organizational changes immediately and ideally gives a hint of problems before they even appear in the organization. Such real time systems are nowadays regarded as the front-line solutions for managing organizations effectively. The technological possibilities seem not to conquer management. For most companies the data is still dealt with traditional solutions, data is collected and reports are generated to evaluate the past occurrences which only gives information on what has happened in the organization. The problem with these non-real-time systems is the reflection of organizational condition very late. These are the common rear-mirror descriptions for what already has been. Managers are receiving information from their organizations too late and often too little to make optimal decisions. Is it not possible to manage operations in real-time? Is real-time decision support really needed? If so, why most organizations still rely on traditional reporting systems.

Time series data are increasingly prevalent across domains such as finance, healthcare, manufacturing, and IoT, making accurate forecasting and anomaly detection critical for decision-making and system reliability. Traditional statistical methods (e.g., ARIMA, Holt-Winters) often fail to capture complex temporal dependencies and high-dimensional interactions inherent in modern time series. Recent advances in artificial intelligence particularly deep learning architectures such as recurrent neural networks (RNNs), convolutional neural networks (CNNs), temporal convolutional networks (TCNs), graph neural networks (GNNs) and Transformers have demonstrated marked improvements in modeling both univariate and multivariate series, as well as in detecting anomalies that deviate from learned norms (Darban, Webb, Pan, Aggarwal, & Salehi, 2022; Chiranjeevi, Ramya, Balaji, Shashank, & Reddy, 2024) [1,2]. Moreover, ensemble techniques and hybrid signal-processing + deep-learning pipelines show enhanced sensitivity and adaptability in real-world anomaly detection scenarios (Iqbal, Amin, Alsubaei, & Alzahrani, 2024) [3]. In this work, we provide a unified survey and comparative analysis of AI-driven time series forecasting and anomaly detection methods, highlight key industrial application domains, evaluate performance trade-offs (e.g., accuracy vs. latency, supervised vs. unsupervised learning), and discuss emerging challenges including interpretability, data drift, real-time deployment on edge devices, and integration of causal reasoning. Our findings suggest that while AI approaches significantly outperform classical techniques in many settings, careful consideration of data characteristics, evaluation metrics and deployment environment remains essential for effective adoption.