In constant use since ancient times, glass remains a highly valued material that is ubiquitous in daily life. Today, glass has become an indispensable and essential component in such fields as photonics, optical communications, photovoltaic cells, household appliances, vehicles, and building materials. However, one of major stumbling blocks for its optimal use is the low glass-forming ability (GFA) of many glass-forming compositions, which is far from being adequately solved. Understanding the nature of the GFAs of materials is the key to the development of new glasses with improved properties and manufacturability for various engineering applications. The rapid development of new glasses over the past several decades has led to increasingly complex material compositions. However, the phase diagrams of these materials have yet to be properly addressed even though such diagrams are extremely useful in rationally designing glass-forming compositions and predicting their behavior in pursuit of new functional glasses with particular desired properties. In this context, the present review strives to provide new insights into the formation of glasses and glass-forming regions through quantitative calculations and predictions based on a comprehensive survey and analysis of the existing experimental observations and theoretical considerations, a considerable portion of which stems from work performed in our own laboratory.