You can either set up virtual machines or do a multiboot setup. It depends on how how want it to work. If you go VM, some people like VM Ware which costs money, others prefer VirtualBox or other free solutions. There is also the built in Hyper V client in the "Pro" version of Windows OSes of late:
https://technet.microsoft.com/en-us/library/hh846766.aspx
https://technet.microsoft.com/en-us/library/hh846766.aspx