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How exactly does forecasting work? What’s the process like?
To begin with, I’d like to just underline that forecasting and prediction are very different. As futurists, we’re not making predictions but, rather, making approximations based on existing trends. I like to think of it as collapsing probability space into the most likely futures.
So having said that, there are many forecasting methodologies but most of them begin with scanning. This is a process of tracking information flows to get signals around your domain. Signals are essentially any event within the domain that you’re researching. So you pay attention to as many data streams as possible to get a feel for the emerging trends, where the money is flowing, social politics, etc… And from this you can start to derive estimates of where things are heading.
Typically this activity is followed by many different methods of analysis. You might talk to experts in the field, you might use different types of axial analysis, eg ubiquitous vs.