Assessing End of Year Predictions: How Did they Fare? (2)

The evaluation of our 2012 predictions’ sample underlines notably a widespread conventional view of national security, novel issues being ignored; a relative inability to assess timing whilst our understanding of issues fares relatively well; the existence of major biases, notably regarding China, Russia, and the U.S; the difficulty of prediction for novel issues and old issues in new context.

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An Experiment in Assessing End of Year Predictions (1)

This post will present the experiment – assessing a sample of open source predictions for the year 2012 – address the methodological problems encountered while creating the evaluation itself, and underline the lessons learned. The second part (forthcoming) will discuss results.

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Useful Rules for Strategic Foresight and Risk Management from Taleb’s The Black Swan

This second article on The Black Swan: the impact of the highly improbable by Nassim Nicholas Taleb emphasises some of the author’s points that are crucial for foresight and warning. Likewise, they are necessary for any work dealing with the future and its anticipation, from risk management to horizon scanning through early warning.

The methodology of SF&W and risk management allows addressing these points. They should become rules and principles all analysts follow. Indeed, without paying attention to them, good analysis is impossible. The first article on The Black Swan can be accessed here.

Humility

humility, doubt

(Notably pp.190-200) Considering uncertainty, but also our imperfect condition of human beings, the complexity of the social world, feedbacks, our more than insufficient knowledge and understanding, we must ….

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Taleb’s Black Swans: The End of Foresight?

Since Nassim Nicholas Taleb published his bestseller The Black Swan: the impact of the highly improbable back in 2007, “Black Swans” and “Black Swans events” have become part of everyday language.

They are used as a catchphrase to mean two different things. First, as was the case in the Brookings interesting interactive “briefing book” Big Bets and Black Swans: Foreign Policy Challenges for President Obama’s Second Term, “black swans” represent high impact, low probability events, what is also known as wild cards.[i]

Second, “black swans” refer to events that could absolutely not be predicted, as, for example for the Economist in ”The prediction games: Our winners and losers from last year’s edition”. Unfortunately, in this case, the label “black swans” excuses foresight errors. It tends to stop explanations and evaluation. Similarly, some will make statements along the line of “oh, but there is no point to do any foresight (or futures work or forecast), did you not read Taleb’s Black Swan? One cannot predict or foresee anything.”

This is a rather bold statement, especially when one seeks to anticipate uncertainty and to foresee and warn. We thus need to explore the unpredictability claim further.

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End of Year Predictions: the 2013 Yield

Open sources predictions for 2013 published on the web related to conventional and unconventional national security and as foreword a few methodological posts on predictions and forecasts.

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Trial by Fire for Foresight: The 2012 Predictions of The Economist

The Economist shows the lead in a courageous yet hardly ever done exercise: going back to our own foresight and assess, in the light of the present, what was right and what was wrong. It provides us with an example of how such lessons learned could be endeavoured, underlines questions that should be asked and key challenges for anticipation, and exemplifies how biases can derail foresight.

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The Red (team) Analysis Weekly No68, 4 October 2012

No68 – 4 October 2012 Click on image to read on Paper.li.

Can the Past Predict the Future? – Public Panel Event – Sept 13 2012 – Decorah, Iowa, U.S.

If ever you happen to be close to Decorah, Iowa, on September 13, 2012, join us for the panel event for a lively discussion (RT and share please).

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