A successful foresight process has three phases.
The first is the gathering of information, followed by a second phase of translation and interpretation. The final phase consists of outputs where “wisdom” is created.
It is in this second phase that the processes of analysis, interpretation and prospection occur. The meaning of the terms analysis and interpretation are self-evident. However prospection needs clarification. Prospection is the creation of “forward views” or “images of the future”. It is through the application of the methods of prospection including scenario development, visioning, normative methods and backcasting, that defensible forward views are established.
The art and science of this three step strategic foresight process is in the quality and application of the produced wisdom.