On the surface, these appear to be the same coin, different sides, albeit three sides?.
Not so in business.
Foresight is often little more accurate than the musings of the gypsy at the local fair, whereas hindsight is capable of being 100% accurate.
Modelling has become the commercial equivalent of the crystal ball, offering the capacity to predict the future, but relies on the assumptions accurate in the past (seen with the benefit of hindsight) being consistent into the future, usually better than rubbing the crystal, but often not much.
Software has given us the false sense of security that comes with reams of paper with numbers all over it, and we often forego the benefit of experience, wisdom, and plain common sense, lured by the sirens song of the “certainty” generated by the numbers .
Bring back the value of common sense, and suspicion of anything that smacks of certainty when predicting the future, and we will all make better decisions.
