The effect of the future on today's decisions

What is the effect of the future on today's decisions? The future plays a part in all of our decisions whether we utilize formal forecasting techniques or not. Some of the uncertainty of the future can be reduced by applying one or more of the techniques of trend extrapolation, subjective opinion of experts, and construction of scenarios. The results, to be useful to decision makers, must be pertinent, credible and capable of realization.