What is the formal study of possible, probable, and preferable futures called?

The formal study of possible, probable, and preferable futures is referred to as futures research. This field primarily focuses on exploring various scenarios and trends to anticipate and understand the factors that can influence future developments in society, technology, economics, and other domains. Futures research involves systematic approaches and methodologies to analyze data and make informed predictions about what the future may hold, allowing organizations and individuals to prepare strategically.

The distinction as to why this term is accurate lies in its emphasis on not just projecting future trends, but also considering various potential outcomes. This encompasses the exploration of various perspectives, stakeholder values, and the impact of uncertainties, leading to a comprehensive approach in envisioning the future. By utilizing scenarios and modeling, futures research helps in strategic decision-making and problem-solving in a multitude of sectors.