Dear Mr. Diyoke

You can easily handle the model like ARMA or ARIMA using Eviews software.  the command for ARMA(1, 1) is

First input the wind speed data (y) and then follow the steps as

Quick-Estimate Equation-select (least Square) and write the command in box window 

y c ar(1) ma(1)

I hope u get the answer.

Best,

In matlab you can use the ident toolbox if you have access to it.

Dear Mr. Chidiebere Diyoke,

As mentioned by Ahammad Hossain, Eviews software provides very easy forecasting. You may want to have a look at the attached publication (my paper on forecasting using Eviews). Currently, I am using Statgraphics software for forecasting through various forecasting models, I found it even easier than Eviews and with much more options and testings. I learned it from the help command and over internet. Hope it helps. 

All the best. 

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Thanks all for your timely responses, they were helpful.

Now am confronted with another challenge,

I am trying to forecast some day ahead values from some time series data that has been fitted with an ARMA model but don't know how to calculate the error term e(t) in the fitted model. 

The fitted model is Yt = 0.9Yt-1 + et - 0.07et-1.