What is strategic foresight?

Strategic foresight is a systematic approach used by organizations to anticipate future trends, challenges, and opportunities. It involves analyzing data, market signals, and expert opinions to proactively adapt strategies, ensuring a competitive edge and long-term success. The Radar is a key tool in strategic foresight. It helps organizations monitor and interpret emerging trends by collecting and analyzing data, allowing them to stay ahead of changes in their industry. Through strategic foresight, companies can identify potential disruptions, new technologies, and market shifts early, enabling them to make informed decisions and maintain their competitive advantage. Strategic foresight is often conducted through a survey distributed among a community of experts. These experts provide their insights and opinions on future trends in two main ways:

• – Using the like/dislike feature: Experts can vote for or against specific trends or signals based on their relevance or impact.
• – Estimating trend parameters: Experts can provide detailed assessments by estimating key parameters related to each trend, such as the expected year of impact, business impact, adoption duration, and probability.

To organize a strategic foresight process, the following steps are typically required: 1. Register a workspace and select a topic for discussion: Choose an area of focus, such as IT, Energy, or Healthcare. 2. Find signals for discussion: Identify and curate signals (emerging trends or technologies) to discuss with the expert community, creating a project for each signal. 3. Configure signal reports: Add detailed descriptions of each trend or technology, including links to related articles and resources. 4. Enable voting for/against signals: Allow experts to express their opinions using the like/dislike feature (How to Enable Voting?). 5. Add ranking controls for parameter estimation: Set up controls that allow experts to estimate key parameters for each signal (How to estimate project parameters with a community?). 6. Display voting results: Create a view that shows the aggregated results of the like/dislike voting (How to add voting results to a view?). 7. Display parameter estimation results: Create a view that displays the results of the parameter estimations (How to view project parameters estimation results?). 8. Organize strategic foresight using a wizard: Prepare preface and conclusion explanations to guide the participants through the process (How to switch on iterating through signals using wizard?). 9. Publish a common registration link: Share the link that allows participants to join the workspace and contribute to the strategic foresight process (How to share the common registration link?). 10. Open a Radar view for all registered users: Provide access to a visual representation of the signals and their assessments (How to make a view accessible to all workspace users?). This structured approach enables organizations to harness the collective intelligence of their expert community, making more informed and forward-looking decisions.