Strategic foresight does not attempt to offer definitive answers about what the future will hold. The objective is not to predict the future, but to expand and reframe the range of plausible developments that need to be taken into consideration for at least the next five years. Strategic foresight assists planners and strategists in anticipating what possible futures may exist and allows them to guide their organizations toward preferred outcomes.
Foresight improves decision making when limited insights with low fidelity are offered by predictive tools, yet cannot be used to make predictions. At this time, predictive analytics are still not capable of delivering accurate and detailed predictions in volatile, uncertain, complex, and ambiguous (VCUA) environments over a long period of time.
With unprecedented events reshaping our world every minute, there has been an increase across all aspects of the VUCA framework in today’s global environment. Therefore, it is insufficient to plan the future based on a singular vision as one would not be able to react fast enough to today’s everchanging global operating environment.