The future is the time after the past and present. Its arrival is considered inevitable due to the existence of time and the laws of physics. Due to the apparent nature of reality and the unavoidability of the future, everything that currently exists and will exist can be categorized as either permanent, meaning that it will exist forever, or temporary, meaning that it will end. In the Occidental view, which uses a linear conception of time, the future is the portion of the projected timeline that is anticipated to occur. In special relativity, the future is considered absolute future, or the future light cone.
A prediction, or forecast, is a statement about a future event or data. They are often, but not always, based upon experience or knowledge. There is no universal agreement about the exact difference from "estimation"; different authors and disciplines ascribe different connotations.
Forecasting is the process of making predictions based on past and present data. Later these can be compared (resolved) against what happens. For example, a company might estimate their revenue in the next year, then compare it against the actual results creating a variance actual analysis. Prediction is a similar but more general term. Forecasting might refer to specific formal statistical methods employing time series, cross-sectional or longitudinal data, or alternatively to less formal judgmental methods or the process of prediction and resolution itself. Usage can vary between areas of application: for example, in hydrology the terms "forecast" and "forecasting" are sometimes reserved for estimates of values at certain specific future times, while the term "prediction" is used for more general estimates, such as the number of times floods will occur over a long period.
The Delphi method or Delphi technique is a structured communication technique or method, originally developed as a systematic, interactive forecasting method which relies on a panel of experts. The technique can also be adapted for use in face-to-face meetings, and is then called mini-Delphi. Delphi has been widely used for business forecasting and has certain advantages over another structured forecasting approach, prediction markets.
Scenario planning, scenario thinking, scenario analysis, scenario prediction and the scenario method all describe a strategic planning method that some organizations use to make flexible long-term plans. It is in large part an adaptation and generalization of classic methods used by military intelligence.
Morphological analysis or general morphological analysis is a method for exploring possible solutions to a multi-dimensional, non-quantified complex problem. It was developed by Swiss astronomer Fritz Zwicky.
Failure mode and effects analysis is the process of reviewing as many components, assemblies, and subsystems as possible to identify potential failure modes in a system and their causes and effects. For each component, the failure modes and their resulting effects on the rest of the system are recorded in a specific FMEA worksheet. There are numerous variations of such worksheets. An FMEA can be a qualitative analysis, but may be put on a quantitative basis when mathematical failure rate models are combined with a statistical failure mode ratio database. It was one of the first highly structured, systematic techniques for failure analysis. It was developed by reliability engineers in the late 1950s to study problems that might arise from malfunctions of military systems. An FMEA is often the first step of a system reliability study.
Futurists are people whose specialty or interest is futurology or the attempt to systematically explore predictions and possibilities about the future and how they can emerge from the present, whether that of human society in particular or of life on Earth in general.
Futures studies, futures research, futurism or futurology is the systematic, interdisciplinary and holistic study of social and technological advancement, and other environmental trends; often for the purpose of exploring how people will live and work in the future. Predictive techniques, such as forecasting, can be applied, but contemporary futures studies scholars emphasize the importance of systematically exploring alternatives. In general, it can be considered as a branch of the social sciences and an extension to the field of history. Futures studies seeks to understand what is likely to continue and what could plausibly change. Part of the discipline thus seeks a systematic and pattern-based understanding of past and present, and to explore the possibility of future events and trends.
Strategic foresight is a planning-oriented discipline related to futures studies. In a business context, a more action-oriented approach has become well known as corporate foresight.
In futurology, especially in Europe, the term foresight has become widely used to describe activities such as:
Technology forecasting attempts to predict the future characteristics of useful technological machines, procedures or techniques. Researchers create technology forecasts based on past experience and current technological developments. Like other forecasts, technology forecasting can be helpful for both public and private organizations to make smart decisions. By analyzing future opportunities and threats, the forecaster can improve decisions in order to achieve maximum benefits. Today, most countries are experiencing huge social and economic changes, which heavily rely on technology development. By analyzing these changes, government and economic institutions could make plans for future developments. However, not all of historical data can be used for technology forecasting, forecasters also need to adopt advanced technology and quantitative modeling from experts’ researches and conclusions.
The following outline is provided as an overview of and topical guide to futures studies:
Robust decision-making (RDM) is an iterative decision analytics framework that aims to help identify potential robust strategies, characterize the vulnerabilities of such strategies, and evaluate the tradeoffs among them. RDM focuses on informing decisions under conditions of what is called "deep uncertainty", that is, conditions where the parties to a decision do not know or do not agree on the system models relating actions to consequences or the prior probability distributions for the key input parameters to those models.
Corporate foresight has been conceptualised by strategic foresight practitioners and academics working and/or studying corporations as a set of practices, a set of capabilities and an ability of a firm. It enables firms to detect discontinuous change early, interpret its consequences for the firm, and inform future courses of action to ensure the long-term survival and success of the company.
Real-time Delphi (RTD) is an advanced form of the Delphi method. The advanced method "is a consultative process that uses computer technology" to increase efficiency of the Delphi process.
Cross-impact analysis is a methodology developed by Theodore Gordon and Olaf Helmer in 1966 to help determine how relationships between events would impact resulting events and reduce uncertainty in the future. The Central Intelligence Agency (CIA) became interested in the methodology in the late 1960s and early 1970s as an analytic technique for predicting how different factors and variables would impact future decisions. In the mid-1970s, futurists began to use the methodology in larger numbers as a means to predict the probability of specific events and determine how related events impacted one another. By 2006, cross-impact analysis matured into a number of related methodologies with uses for businesses and communities as well as futurists and intelligence analysts.
Trade promotion forecasting (TPF) is the process that attempts to discover multiple correlations between trade promotion characteristics and historic demand in order to provide accurate demand forecasting for future campaigns. The ability to distinguish the uplift or demand due to the impact of the trade promotion as opposed to baseline demand is fundamental to model promotion behavior. Model determination enables what-if analysis to evaluate different campaign scenarios with the goal of improving promotion effectiveness and ROI at the product-channel level by selecting the best scenario.
The Institute for the Future (IFTF) is a Palo Alto, California, US–based not-for-profit think tank. It was established, in 1968, as a spin-off from the RAND Corporation to help organizations plan for the long-term future, a subject known as futures studies.
Threatcasting is a conceptual framework used to help multidisciplinary groups envision future scenarios. It is also a process that enables systematic planning against threats ten years in the future. Utilizing the threatcasting process, groups explore possible future threats and how to transform the future they desire into reality while avoiding undesired futures. Threatcasting is a continuous, multiple-step process with inputs from social science, technical research, cultural history, economics, trends, expert interviews, and science fiction storytelling. These inputs inform the exploration of potential visions of the future.
